Daily Brief Energy/Materials: Reliance Industries, Crude Oil, Italmobiliare SpA and more

• In this note, we will take a look at the Asia Pacific IPO pipeline for 2024, following up with India after having looked at Hong Kong earlier.
• This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
• The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.

• Despite supply cuts by OPEC members the EIA expects supply to outpace demand for most of 2024 and 2025.
• The agency forecasts the average spot price of WTI and Brent to decline in 2024 and 2025.
• Concerns of tepid global demand and inventory build-up grow as short positions in the crude oil options market jump.

Key points (machine generated)

• Italmobiliare, an Italian investment company, has seen exceptional performance with a 26% portfolio internal rate of return since a new strategy and management team took over five years ago.
• Despite its strong track record, the company’s stock price is undervalued by over 50% compared to its net asset value.
• Insiders are showing confidence in the company’s future prospects by aggressively purchasing shares, suggesting potential future growth.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.