In today’s briefing:
- HSCI Index Rebalance and Stock Connect: Potential Changes in December & March (There’s a Lot!)
- Tassal (TGR AU): 3rd November Shareholder Vote On Cooke Offer
HSCI Index Rebalance and Stock Connect: Potential Changes in December & March (There’s a Lot!)
- We see three new listings as potential inclusions to the HSCI in December. One is already in Stock Connect, one will be added to Stock Connect while one will not.
- Given the large market moves, there will be many changes to the HSCI in March 2023. Quite a few stocks could remain in the HSCI but drop out of Connect.
- Some of the potential deletions/ Stock Connect drops have large Southbound holdings and some of these positions could be pared back over the next few months.
Tassal (TGR AU): 3rd November Shareholder Vote On Cooke Offer
- Tassal (TGR AU) has convened a Scheme Meeting on the 3 November for shareholders to vote on the proposal from Cooke Inc at A$5.23/share.
- The vote, for all intent and purposes, appears a formality. The Independent Expert considers the Offer to be fair and reasonable with a fair range of A$4.65-A$5.35/share.
- Trading at a gross/annualised spread of 1.2%/8.8%, assuming late-November completion.
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