In today’s briefing:
- S&P/ASX200 Index Ad Hoc Rebalance Preview: Replacement for Invocare (IVC)
- EcoPro Materials IPO: Valuation Insights
S&P/ASX200 Index Ad Hoc Rebalance Preview: Replacement for Invocare (IVC)
- Light & Wonder (LNW AU) will replace United Malt Group Ltd (UMG AU) in the S&P/ASX 200 (AS51 INDEX) at the close on 17 October.
- Invocare Ltd (IVC AU) is expected to stop trading after the close on 3 November and Boss Resources (BOE AU) is best placed to be the replacement.
- There are stocks that are close on the heels of Boss Resources (BOE AU) and will compete for a place. Two of those could be added at the December rebalance.
EcoPro Materials IPO: Valuation Insights
- EcoPro Materials (ECO123 KS) is a leading player in the electrode material industry. It is seeking to raise up to US$470 million in a KRX IPO.
- We previously discussed the IPO in EcoPro Materials IPO: The Bull Case and EcoPro Materials IPO: The Bear Case.
- In this note, we look at the syndicate’s valuation methodology. Our valuation analysis suggests that the IPO price range is unattractive, and we would pass on the IPO.
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