QAF: Improving Bakery + Listing of Pork Business + Net Cash = 10% to 16% Upside Not Yet Baked In
QAF’s 72% drop in headline net profit for 1H17 does not look pretty, but it masks the overall potential of the underlying businesses. Also, the...
787 Views
Take Profit on WH Group (+33%) As Valuation Gap with Peers Narrows; Revisit After Interim Results
Softer hog prices and world-class execution benefited WH Group so far:WH Group has gained ~33% since my note Synergies and Global Ambitions...
533 Views
Smartkarma: ECM Coverage Weekly Update (21 May 2017)
The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.Accuracy Rate:Our...
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WH Group Placement: CDH Overhang (Almost) Cleared
CDH is selling down c.US$740m worth of WH Group today after market close. This represents 6% of WH Group's outstanding shares. Post this deal, CDH...
484 Views
Unlocking QAF's Value (Part 2) - Artisan Bakery in the Making?
In part 1 of the series, I have discussed the primary production (pork) segment of QAF Ltd (QAF SP). In part 2, I will provide an overview of its...
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