In today’s briefing:
- Shah Capital’s $2.00/Share Buyout of Emeren Group Faces Market Skepticism Amid Operational Challenges and Competing Bid
- Hong Kong Single Stock Options Weekly (Dec 01 – 05): Narrow Range, Low Vols and Weaker Put Flow
- Iron Ore Rally Stretches Thin as Technicals Flash Pullback Risk
- Lucror Analytics – Morning Views Asia
Shah Capital’s $2.00/Share Buyout of Emeren Group Faces Market Skepticism Amid Operational Challenges and Competing Bid
- Emeren Group’s largest shareholder, Shah Capital, plans to take the company private at $2.00/share, with a 13% spread.
- Shah Capital owns 36% of SOL, requiring $65m for the buyout, with no financing concerns reported.
- A competing bid from EEW Renewables was declined due to concerns about financing and track record credibility.
Hong Kong Single Stock Options Weekly (Dec 01 – 05): Narrow Range, Low Vols and Weaker Put Flow
- Quiet trade across Hong Kong Single Stock this week with HSI’s weekly range near the lows of the year.
- Implied vols were mixed and are still clinging to the lowest levels of the year.
- Options activity lower week over week, led by declines in Put trading.
Iron Ore Rally Stretches Thin as Technicals Flash Pullback Risk
- Simandou’s arrival and softer mill output signal a clear shift toward weaker near-term demand, even as some investors position for policy surprises.
- Technical signals point to stretched momentum, with the broader setup now tilting toward elevated odds of a near-term mean-reversion pullback.
- The 65–62 spread climbed sharply this week, while the 62–58 spread moved lower, marking a notable divergence across grade differentials.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Greentown China
- UST yields rose 2-4 bps yesterday, led by the front end, following the strong jobless claims data. The yield on the 2Y UST jumped 4 bps to 3.52%, while the yield on the 10Y UST climbed 3 bps to 4.10%. Fed-dated OIS were steady, and continued to price in a 92% probability of a rate cut next Wednesday.
- Equities edged up slightly towards record high levels. The S&P 500 and Nasdaq rose 0.1% and 0.2% to 6,857 and 23,505, respectively.
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