In today’s briefing:
- Abacus Storage (ASK AU): Kirsh/Public Storage Buck Market Volatility With NBIO
- Lucror Analytics – Morning Views Asia
- Runwal Enterprises Ltd Pre-IPO Tearsheet
Abacus Storage (ASK AU): Kirsh/Public Storage Buck Market Volatility With NBIO
- Ki Corporation and Public Storage (PSA US) together announced a NBIO, by way of a Scheme, to acquire all of the outstanding securities of Abacus Storage (ASK AU) not held.
- The indicative offer of A$1.47/stapled security is a 26.7% premium to undisturbed and ~8% discount to the latest NTA/security. Nathan Kirsh directly/indirectly holds a 59.47% stake in ASK.
- Trading at a gross/annualised spread of 6.9%/10.9%, assuming late Nov completion. That’s tight given timing risk, and terms not being firm.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Greentown China
- In the US, the NFIB small business optimism index declined to 97.4 (99.0 e / 100.7 p), just below the 51-year average of 98.
- US President Donald Trump’s tariffs are set to take effect from midnight ET today, according to the US Customs and Border Protection.
Runwal Enterprises Ltd Pre-IPO Tearsheet
- Runwal Enterprises Limited (2300329D IN) (REL) is planning to raise about US$117m through its upcoming India IPO. The lead bookrunners for the deal are ICICI, Jefferies.
- REL is a real estate developer engaged across the full spectrum of real estate, with a focus on residential (affordable to luxury), commercial spaces, retail malls, and educational buildings.
- As per JLL Report, between Jan 19 and Sept 24, Runwal Enterprises ranked 2nd in Mumbai for both new launches (5.69%) and sales (5.25%).
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