Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>Uniti Group successfully executed a rapid growth strategy through a series of strategic acquisitions, consolidating a significant portion of the non-NBN fibre market and establishing itself as a key player in Australian telecommunications infrastructure.</li>
 <li>The company's core Wholesale &amp; Infrastructure division, focused on Fibre-to-the-Premises (FTTP) networks in new housing developments, represents a high-quality infrastructure asset with long-term, recurring, annuity-style revenue streams.</li>
 <li>The company's trajectory culminated in a A$3.7 billion acquisition in August 2022 by a consortium of infrastructure investors, a testament to its strong market position and the intrinsic value of its fibre assets.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Uniti Group successfully executed a rapid growth strategy through a series of strategic acquisitions, consolidating a significant portion of the non-NBN fibre market and establishing itself as a key player in Australian telecommunications infrastructure.
  The company's core Wholesale &amp; Infrastructure division, focused on Fibre-to-the-Premises (FTTP) networks in new housing developments, represents a high-quality infrastructure asset with long-term, recurring, annuity-style revenue streams.
  The company's trajectory culminated in a A$3.7 billion acquisition in August 2022 by a consortium of infrastructure investors, a testament to its strong market position and the intrinsic value of its fibre assets.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Uniti Group Ltd (UWL AU) - Aug 2026

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Thematic (Sector/Industry)

<ul>
<li>To an Australian individual investor, franking credits simply recognise tax already paid by a company on their earnings. These credits may reduce tax you would otherwise pay on dividend income.</li>
<li>This dividend imputation system prevents double taxation and essentially treats company tax paid as a prepayment of shareholder tax.</li>
<li>The system makes a lot of sense. It's a curious thing so few countries have adopted a similar corporate tax structure.</li>
</ul>


To an Australian individual investor, franking credits simply recognise tax already paid by a company on their earnings. These credits may reduce tax you would otherwise pay on dividend income.
This dividend imputation system prevents double taxation and essentially treats company tax paid as a prepayment of shareholder tax.
The system makes a lot of sense. It's a curious thing so few countries have adopted a similar corporate tax structure.


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 weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea and Chinese ADRs.</li>
<li>On the ECM front, <a href="https://www.smartkarma.com/entities/tianqi-lithium-corporation" target="_blank" data-smartkarma-citation="entities:27789:1" rel="noopener">Tianqi Lithium (9696 HK)</a> listed its H Shares, <a href="https://www.smartkarma.com/entities/wcp-co-ltd" target="_blank" data-smartkarma-citation="entities:36076:1" rel="noopener">WCP (WCP KS)</a> plans to launch a KRW900 billion (US$692 million) IPO in August. </li>
<li>Event-Driven developments at <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a>, DTAC/True, <a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD (1211 HK)</a>, <a href="https://www.smartkarma.com/entities/genting-singapore-ltd" target="_blank" data-smartkarma-citation="entities:439:1" rel="noopener">Genting Singapore (GENS SP)</a>, <a href="https://www.smartkarma.com/entities/tassal-group-ltd" target="_blank" data-smartkarma-citation="entities:16234:1" rel="noopener">Tassal (TGR AU)</a>, <a href="https://www.smartkarma.com/entities/narhex-life-sciences-ltd" target="_blank" data-smartkarma-citation="entities:9728:1" rel="noopener">Resapp Health (RAP AU)</a>, <a href="https://www.smartkarma.com/entities/shanghai-dongzheng-automotive-finance-co-ltd" target="_blank" data-smartkarma-citation="entities:27984:1" rel="noopener">Dongzheng Automotive Finance (2718 HK)</a>.      </li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea and Chinese ADRs.
On the ECM front, Tianqi Lithium (9696 HK) listed its H Shares, WCP (WCP KS) plans to launch a KRW900 billion (US$692 million) IPO in August. 
Event-Driven developments at Link Administration (LNK AU), DTAC/True, BYD (1211 HK), Genting Singapore (GENS SP), Tassal (TGR AU), Resapp Health (RAP AU), Dongzheng Automotive Finance (2718 HK).      


Weekly Deals Digest (17 Jul): WCP, BYD, Link, Genting Singapore, DTAC/True, AOF, ResApp

Travis Lundy

<ul>
<li>The <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti Group Ltd (UWL AU)</a> Scheme Meeting was held Friday, <a href="https://www.asx.com.au/asxpdf/20220715/pdf/45bwmksgwqgcfw.pdf" target="_blank" rel="noopener">approving</a> both General Scheme Resolution and Rollover Shares Scheme unanimously. The MBD Bidco deal is done. </li>
<li>Friday after the close, the S&amp;P DJI Global Index team announced that Uniti would be deleted from the ASX200 21 July at the close.</li>
<li>Gold miner <a href="https://www.smartkarma.com/entities/west-african-resources-ltd" target="_blank" data-smartkarma-citation="entities:18794:1" rel="noopener">West African Resources (WAF AU)</a> was chosen as the replacement. It's a decent-sized inclusion and should have been well-flagged last week but may have been ignored.</li>
</ul>


The Uniti Group Ltd (UWL AU) Scheme Meeting was held Friday, approving both General Scheme Resolution and Rollover Shares Scheme unanimously. The MBD Bidco deal is done. 
Friday after the close, the S&amp;P DJI Global Index team announced that Uniti would be deleted from the ASX200 21 July at the close.
Gold miner West African Resources (WAF AU) was chosen as the replacement. It's a decent-sized inclusion and should have been well-flagged last week but may have been ignored.


S&P/ASX200: West African Resources (WAF) Replaces Uniti (UWL) At 21 July Close

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/west-african-resources-ltd" target="_blank" data-smartkarma-citation="entities:18794:1" rel="noopener">West African Resources (WAF AU)</a> will replace <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti Group Ltd (UWL AU)</a> in the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> at the close of trading on 21 July.</li>
<li>We estimate passive trackers will need to sell 45.3m shares (A$226m; 10.2 days of ADV) on <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti Group Ltd (UWL AU)</a> at the close on 21 July.</li>
<li>With over 10 days of ADV to buy from passive trackers and only 4 days to implementation, <a href="https://www.smartkarma.com/entities/west-african-resources-ltd" target="_blank" data-smartkarma-citation="entities:18794:1" rel="noopener">West African Resources (WAF AU)</a> could outperform its peers till 21 July.</li>
</ul>



West African Resources (WAF AU) will replace Uniti Group Ltd (UWL AU) in the S&amp;P/ASX 200 (AS51 INDEX) at the close of trading on 21 July.
We estimate passive trackers will need to sell 45.3m shares (A$226m; 10.2 days of ADV) on Uniti Group Ltd (UWL AU) at the close on 21 July.
With over 10 days of ADV to buy from passive trackers and only 4 days to implementation, West African Resources (WAF AU) could outperform its peers till 21 July.


ASX200 Index Rebalance: West African Resources (WAF) In; Uniti Group (UWL) Out

Australia

Uniti Group Limited provides broadband solutions. The Company offers internet access and other related services. Uniti Group serves customers in Australia.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Uniti Group Ltd (UWL AU)

Primer: Uniti Group Ltd (UWL AU) - Aug 2026

Uniti Group successfully executed a rapid growth strategy through a series of strategic acquisitions, consolidating a significant portion of the...

αSK Primers

Let's Talk Aussie Franking Credits

Dividend imputation allows tax credits to be passed to shareholders from companies for corporate tax paid. It prevents double taxation and treats...

David Blennerhassett

Weekly Deals Digest (17 Jul): WCP, BYD, Link, Genting Singapore, DTAC/True, AOF, ResApp

Last week, notable developments occurred in Event-Driven (BYD, Genting Singapore, Link Admin, DTAC/True, ResApp, Tassal, Uniti) and ECM (WCP,...

Arun George

S&P/ASX200: West African Resources (WAF) Replaces Uniti (UWL) At 21 July Close

Uniti Group's Scheme is approved delisting is Friday 22 July. As a result, S&P/ASX200 needs a new member Thursday at the close. That's West African...

Travis Lundy

ASX200 Index Rebalance: West African Resources (WAF) In; Uniti Group (UWL) Out

West African Resources (WAF) will replace Uniti Group in the ASX200 at the close on 21 July. There is a lot to buy on WAF and the stock should...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)