In today’s briefing:
- AVJennings (AVJ AU): Ho Bee’s Superior Proposal
- Asia Real Estate Tracker (14-Jan-2025): NTT secures banks for $1B SG data centre REIT.
- Lucror Analytics – Morning Views Asia
AVJennings (AVJ AU): Ho Bee’s Superior Proposal
- Back on the 28th November, AVJennings Ltd (AVJ AU), a reputable home builder in Australia/New Zealand, entered into a deed granting the AVID consortium exclusive confirmatory due diligence.
- The AVID consortium, comprising Proprium Capital Partners and AVID Property Group, pitched an NBIO (by way of a Scheme) of A$0.67/share. Singapore’s SC Global (54.5% shareholder) was supportive.
- In what appeared to be clean deal, Ho Bee Land Ltd (HOBEE SP) then acquired a 5.39% stake on the 23rd December. Now they’ve made their own NBIO at A$0.70/share.
Asia Real Estate Tracker (14-Jan-2025): NTT secures banks for $1B SG data centre REIT.
- NTT obtains $1B for a Singapore data center REIT, supporting expansion and growth in the region.
- Japan’s Open House acquires Bolder Presence in a $390M stake buy, increasing investment in the company.
- Shimao lowers Sheraton HK Airport hotel price by 30% to attract more customers, adjusting to market demand.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Yuexiu Property, Seazen Group, Vedanta Resources
- In the US, the UST curve bear steepened slightly, amid a rise in oil price and a heavy pipeline of corporate bond issuances. The yield on the 2Y UST was unchanged at 4.38%, while that on the 10Y UST was up 2 bps at 4.78%. Equities were mixed.
- The S&P 500 rebounded 0.2% from last Friday’s selloff to close at 5,836. That said, the Nasdaq fell 0.4% to 19,088, driven by a decline in large tech stocks.
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