In today’s briefing:
- Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (28 Jul)
- Ainsworth (AGI AU): A Dicey Scheme Vote Underwritten by an Alternative Takeover Offer
- Domain Holdings Australia Ltd – The Monday Report – 28 July 2025
Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (28 Jul)
- Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.
- Highlight: Currently five pair trade opportunities across three markets and three sectors persist.
- Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.
Ainsworth (AGI AU): A Dicey Scheme Vote Underwritten by an Alternative Takeover Offer
- The Ainsworth Game Technology (AGI AU) IE considers Novomatic’s A$1.00 to be fair and reasonable, as it falls within its A$0.93-1.07 valuation range. The vote is on 29 August.
- The offer has drawn opposition from several notable shareholders. There remains at least a 50% chance that the scheme vote fails.
- Novomatic can switch to an alternative takeover offer, which limits the downside risk. At the last close and for a 26 September payment, the gross/annualised spread was 1.5%/8.2%.
Domain Holdings Australia Ltd – The Monday Report – 28 July 2025
- Trade deals, central bank meetings, earnings season (US & Europe) with first local releases later in the week, as well as the all-important June quarter CPI print domestically will set the mood and tone for the ASX200 this week.
- ASX200 futures are pointing to a slightly weaker start, but the overnight, EU-US trade deal may boost sentiment.
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