Daily Brief Australia: Avjennings Ltd, Pointerra Ltd, Iron Ore and more

In today’s briefing:

AVJennings (AVJ AU): Ho Bee’s Superior Proposal

Back on the 28th November, AVJennings Ltd (AVJ AU), a reputable home builder in Australia/New Zealand, entered into a deed granting the AVID consortium exclusive confirmatory due diligence.
The AVID consortium, comprising Proprium Capital Partners and AVID Property Group, pitched an NBIO (by way of a Scheme) of A$0.67/share. Singapore’s SC Global (54.5% shareholder) was supportive.
In what appeared to be clean deal, Ho Bee Land Ltd (HOBEE SP) then acquired a 5.39% stake on the 23rd December. Now they’ve made their own NBIO at A$0.70/share.

RaaS has published a flash comment on 3D spatial data solutions group Pointerra (ASX:3DP) following the announcement that that it has been awarded a US$2.0m (A$3.2m) contract extension by the US Department of Energy (DOE) to the existing programme modelling a range of electric grid resilience investment scenarios by electric utilities.
We view the contract extension, which brings total spend to date by the DOE to US$3.63m, as important validation of Pointerra3D’s benefit to the US electric utility sector.
The company says it expects the programme to be completed by 31 December 2025.

SGX TSI Iron Ore CFR China (62% Fe Fines) Index Futures (“SGX IO Futures”) rose last week, closing $0.4/ton higher by 10/Jan (Fri).
Based on seasonality, SGX IO Futures Feb contract trades 24.6% below its last 5-year average ($128.93/ton).
IO prices gained 3% in the 10 trading days leading to CNY. IO prices rises 4.4% over the next 5 days before shedding 5% over the following five.

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