IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sun-art-retail-group-ltd" target="_blank" data-smartkarma-citation="entities:401:1" rel="noopener">Sun Art Retail (6808 HK)</a> entered a trading halt under the Code on Takeovers and Mergers. Bloomberg suggests <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group Holding (BABA US)</a>’s stake is attracting preliminary interest from PE.</li>
<li>Alibaba built its 78.70% stake through two purchases in 2017 (HK$6.50) and 2021 (HK$8.10). An exit would align with the strategy to focus on the core business segments. </li>
<li>The recent Miniso-Yonghui transaction could have prompted PE to act. An offer at book value would imply HK$2.50, a 40% premium to the last close price. </li>
</ul>



Sun Art Retail (6808 HK) entered a trading halt under the Code on Takeovers and Mergers. Bloomberg suggests Alibaba Group Holding (BABA US)’s stake is attracting preliminary interest from PE.
Alibaba built its 78.70% stake through two purchases in 2017 (HK$6.50) and 2021 (HK$8.10). An exit would align with the strategy to focus on the core business segments. 
The recent Miniso-Yonghui transaction could have prompted PE to act. An offer at book value would imply HK$2.50, a 40% premium to the last close price. 


Sun Art Retail (6808 HK): Alibaba’s Stake Draws PE Interest

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Jiangsu Hoperun Software / Index Rebalance

<ul>
<li>CSI 300 represents the 300 largest stocks by market cap and liquidity from the Shanghai and Shenzhen Exchanges. CSI 500 is the next 500.</li>
<li>In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2024.</li>
<li>We currently expect 16 ADDs/DELs for CSI 300 and 50 ADDs/DELs for CSI 500. Some of these names are different from what we had in our September 2024 <a href="https://www.smartkarma.com/insights/quiddity-leaderboard-csi-300-500-dec-24-massive-increase-in-aums-causes-flow-expectations-to-soar" target="_blank" rel="noopener">insight</a>.</li>
</ul>


CSI 300 represents the 300 largest stocks by market cap and liquidity from the Shanghai and Shenzhen Exchanges. CSI 500 is the next 500.
In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2024.
We currently expect 16 ADDs/DELs for CSI 300 and 50 ADDs/DELs for CSI 500. Some of these names are different from what we had in our September 2024 insight.


Quiddity Leaderboard CSI 300/​​500 Dec 24: Some Changes to Exp ADDs/DELs; Large Flow Expectations

China

Shanghai Bailian Group Co.,Ltd. operates as a supermarket. The Company retails vegetables, fruits, meats, seafood, delicatessen products, sweets, snacks, and other related products. Shanghai Bailian Group also operates department store business.

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Shanghai Bailian Group (600827 CH)

Sun Art Retail (6808 HK): Alibaba’s Stake Draws PE Interest

On 27 September, the Board received a pre-conditional voluntary conditional offer from an undisclosed offeror. No terms are disclosed. Alibaba is...

Arun George

Quiddity Leaderboard CSI 300/500 Dec 24: Some Changes to Exp ADDs/DELs; Large Flow Expectations

We estimate for one-way flows of US$3.5bn and US$3.9bn for CSI 300 and CSI 500 respectively. The reference period for ADDs/DELs selection ends on...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sun Art Retail (6808 HK): Alibaba’s Stake Draws PE Interest

On 27 September, the Board received a pre-conditional voluntary conditional offer from an undisclosed offeror. No terms are disclosed. Alibaba is...

Arun George

Quiddity Leaderboard CSI 300/​​500 Dec 24: Some Changes to Exp ADDs/DELs; Large Flow Expectations

We estimate for one-way flows of US$3.5bn and US$3.9bn for CSI 300 and CSI 500 respectively. The reference period for ADDs/DELs selection ends on...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI 300/500 Dec 24: Some Changes to Exp ADDs/DELs; Large Flow Expectations