In today’s briefing:
- Quiddity Leaderboard ASX Mar 25: Several Changes Likely; Major Inflows for Sigma Healthcare
- Get Nice Financial (1469 HK): Attractive Spread Ahead of Get Nice Holdings (64 HK)’s EGM Vote
- 2025 Essential Calendar for Option Traders in Asia: Key Dates & Insights
- Quiddity Leaderboard TDIV Mar 25: US$208mn Capping Flows One-Way; New Trade Idea
- (Mostly) Asia-Pac M&A: Sun Art Retail, AVJennings, Shandong Hi-Speed New Energy, Boqi, Get Nice
- Quiddity Leaderboard T50/100 Mar 25: Tung Ho Steel TDIV Deletion Very Close
- Last Week in Event SPACE: Tsuruha/Welcia, GAPack, Canvest, HKBN
Quiddity Leaderboard ASX Mar 25: Several Changes Likely; Major Inflows for Sigma Healthcare
- In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2025 index rebal event.
- We expect two changes for ASX 50, one change for ASX 100, and seven changes for ASX 200. Separately we see 10 ADDs and 8 DELs for ASX 300.
- Sigma Healthcare (SIG AU) is likely to experience major index inflows in March 2025 if the merger completes as planned.
Get Nice Financial (1469 HK): Attractive Spread Ahead of Get Nice Holdings (64 HK)’s EGM Vote
- The Get Nice Financial Group Ltd (1469 HK)/GNF offer is conditional on the approval by GNH/GNF shareholders. Get Nice Holdings (64 HK)/GNH’s shareholder vote is on 22 January.
- The GNH vote will comfortably pass as Mr Hung, the controlling shareholder, represents 66.11% of outstanding shares, just shy of the 66.67% required voting threshold.
- The implied offer value has declined by 10%, broadly in line with the median decline in peer share prices. Therefore, the scheme vote remains low-risk.
2025 Essential Calendar for Option Traders in Asia: Key Dates & Insights
- Timing expiration, assessing volatility, and managing event risk are crucial for effective option trades.
- Exchange holidays, expiries, central bank rate decisions, and index changes can significantly impact volatility and market direction.
- The attached document provides key dates to help navigate the complexities of option trading in Australia, Hong Kong, India, Japan, South Korea, and the USA.
Quiddity Leaderboard TDIV Mar 25: US$208mn Capping Flows One-Way; New Trade Idea
- The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.
- In this insight, we take look at Quiddity’s expectations for index changes and capping flows for the TDIV Index for the March 2025 index rebal event.
- Currently, we expect no deletions (but one is pretty close) and we estimate the one-way capping flow to be US$208mn.
(Mostly) Asia-Pac M&A: Sun Art Retail, AVJennings, Shandong Hi-Speed New Energy, Boqi, Get Nice
- I tally 51 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- One new deal was discussed this week: Sun Art Retail (6808 HK)‘s (expected) unconditional MGO. A Tsuruha Holdings (3391 JP)/Welcia Holdings (3141 JP) merger was also discussed.
- Key updates/news took place on: AVJennings (AVJ AU), GAPack (468 HK), Shandong Hi-Speed New Energy (1250 HK), Canvest (1381 HK), China Boqi Environmental (2377 HK), and HKBN (1310 HK).
Quiddity Leaderboard T50/100 Mar 25: Tung Ho Steel TDIV Deletion Very Close
- The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange (TWSE). The T100 index represents the next 100 largest names (51-150 ranks).
- In this insight, we take a look at the potential ADDs and DELs for the March 2025 index rebal event.
- Currently, we see one change for T50 and one change for T100 but there are two more months to the base date and our expectations may change before then.
Last Week in Event SPACE: Tsuruha/Welcia, GAPack, Canvest, HKBN
- Tsuruha (3391 JP) and Welcia (3141 JP) may merge quicker than expected. Meaning a one-year “guess the price” ratio. Expect Tsuruha to gain against Welcia from here.
- PUSUs exist in Hong Kong. In its bid for GAPack (468 HK), XJF should sound out the SFC to put Bi/Hong on notice.
- Canvest Environmental (1381 HK) effectively ticks off another pre-con. This transaction continues to trade too wide to terms.
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