In today’s briefing:
- Webjet Group (WJL AU): Helloworld’s Scheme Offer Likely to Morph into Competing Takeover Offers
- S&P/ASX 200 Outlook Ahead of Dec25 Index Rebalance
- GBM Resources (GBZ AU)’s Proposed Secondary Listing In Hong Kong
- Yancoal (YAL AU) Vs. Woodside (WDS AU): Statistical Arb Opportunity in Aussie Energy
- Mader Group’s Competitive Advantages
- Hybridan Small Cap Feast: 12 November 2025
- Cash Converters International RaaS Interview Transcript
Webjet Group (WJL AU): Helloworld’s Scheme Offer Likely to Morph into Competing Takeover Offers
- Webjet Group (WJL AU) disclosed a non-binding scheme offer from Helloworld Ltd (HLO AU) at A$0.90 per share, a 12.5% premium to the rejected BGH/Weiss offer of A$0.80.
- The Board has granted due diligence. The offer is unattractive compared to peer multiples, analyst price targets and historical trading ranges.
- The scheme offer is a non-starter and likely to morph into a PointsBet-type situation. Therefore, the potential result is conditional takeover bids from BGH/Weiss and Helloworld.
S&P/ASX 200 Outlook Ahead of Dec25 Index Rebalance
- November 21st marks the close of the review period for the S&P/ASX 200 (AS51 INDEX) December rebalance. Changes will be announced on December 5th.
- Implementation of changes begins December 19th, read Brian Freitas‘ recent insight to learn about the 7 possible modifications to the ASX 200.
- Passive tracker flows can significantly move markets around index rebalance dates. In this insight, we leverage our models to identify critical support and resistance zone (the index is very OVERSOLD).
GBM Resources (GBZ AU)’s Proposed Secondary Listing In Hong Kong
- Aussie gold and copper explorer GBM Resources (GBZ AU) has announced plans to seek a secondary listing in Hong Kong.
- GBM has entered a memorandum of understanding with its major shareholder, Wise Walkers Limited, which will fund all listing-related expenses – to be repaid upon a successful listing.
- The listing is, ostensibly, to “broaden its investor base“; however Zijin Gold (2259 HK)‘s barnstorming IPO debut probably spurred on this development.
Yancoal (YAL AU) Vs. Woodside (WDS AU): Statistical Arb Opportunity in Aussie Energy
- Context: The Yancoal Australia (YAL AU) vs. Woodside Energy Group (WDS AU) price ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.
- Highlights: Going long Yancoal Australia (YAL AU) and short Woodside Energy Group (WDS AU) targets a 7% return.
- Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.
Mader Group’s Competitive Advantages
- Mader Group’s casual workforce model, diversification into segments beyond mining maintenance, and strong earnings growth rate, have Macquarie initiating with Outperform.
- -Mader Group is Australia’s largest provider of heavy equipment maintenance -Yet underpenetrated in Australia’s mining industry -Attractive model for employees, solid growth trajectory -Macquarie initiates with Outperform
Hybridan Small Cap Feast: 12 November 2025
- The Africa-focused lithium exploration and development Company targeting the delivery of Ghana’s first lithium mine updates on the Mining Lease Ewoyaa Lithium Project.
- The Mining Lease has been submitted to the Parliament of Ghana to be considered, as per due process for ratification.
- The mining lease provides exclusive rights to carry out mining and commercial production activities at Ewoyaa for an initial 15-year period.
Cash Converters International RaaS Interview Transcript
- RaaS Research Group’s senior analyst Graeme Carson interviews Cash Converters International’s CEO/MD Sam Budiselik following the recently announced proposed $37m acquisition of 29 stores.
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