In today’s briefing:
- ESR (1821 HK): A Shareholder Register Look-Through
- Quiddity Leaderboard SET50 Jun25: Final Expectations; 3 Changes Expected + Delta Capping
- Assura Attracts Bidding War Potential: KKR and PHP Compete Amid Strategic Synergies and Market Dynamics
- HSI Tactical Outlook: Buy This Dip
- Kobo Resources Inc – Mining Monthly: May Edition
- Chime Financial, Inc. (CHYM): Valuation Cut in Half, Major VC Players Backing FinTech IPO
- SSI Newsletter Highlights: New SPAC and Liquidation Ideas, Key Updates on Dividends and More
- Independent Director Chua Kee Lock Acquires Venture Shares on Open Market
- Independent Director Chua Kee Lock Acquires Venture Shares on Open Market
ESR (1821 HK): A Shareholder Register Look-Through
- Today, I was the first analyst to gain access to ESR (1821 HK)‘s lesser-known shareholder register, a byproduct of investigative disclosure reports under s329 of the Securities and Futures Ordinance.
- This is the same register discussed in Giordano (709 HK): A Closer Look At The Shareholder Register Ahead Of The SGM and L’Occitane (973 HK): Who Owns What, And When
- It is also used by proxy solicitors. My takeaway, still, is that this Offer is a done deal. But yes; there are a few shareholder activists lurking in the register.
Quiddity Leaderboard SET50 Jun25: Final Expectations; 3 Changes Expected + Delta Capping
- The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).
- In this insight, we present our final expectations for ADDs/DELs for the index rebal event in June 2025.
- We expect three ADDs and three DELs for June 2025.
Assura Attracts Bidding War Potential: KKR and PHP Compete Amid Strategic Synergies and Market Dynamics
- Assura is involved in a potential bidding war with KKR and PHP, both having made acquisition offers.
- KKR’s offer is 49.4p/share, while PHP’s revised offer is 0.3769 PHP shares plus 12.5p/share in cash.
- Glazer increased its stake in Assura to 2.9%, indicating expectations of a bidding war with minimal downside.
HSI Tactical Outlook: Buy This Dip
- After a 7-week rally the Hang Seng Index (HSI INDEX) last week gave up and close the week down (CC=-1 on our WEEKLY LONG model).
- The pullback continued on Monday, reaching 22668 and in our WEEKLY LONG model this price support zone is oversold.
- The pullback may continue, so in this insight we are going to offer some perspective on possible support zones where to buy. We think this setback is a buy opportunity.
Kobo Resources Inc – Mining Monthly: May Edition
- What you need to know: • The metals and mining market continued its strong run in May, driven by inflationary concerns due to the trade war and geopolitical tensions.
- • In May, gold was up 1.8%, silver was up 1.7%, and copper was also up 1.7%.
- The equities outperformed the commodities, with the GDX up 3.3%, GDXJ up 6.4%, SIL up 5.9%, and COPX up 8.7%.
Chime Financial, Inc. (CHYM): Valuation Cut in Half, Major VC Players Backing FinTech IPO
- The company helps everyday people make progress in their financial lives and will be offering 32 million shares at a $24-$26 range equating to a $8.8b-$9.5b valuation.
- The deal is anticipated to price on Tuesday (6/10) for a Wednesday (6/11) debut on the Nasdaq.
- For the three months ended March 31, 2025 the company earned $518.7m in revenue marking a year-over-year increase of 32.3% from the prior year ($391.9m).
SSI Newsletter Highlights: New SPAC and Liquidation Ideas, Key Updates on Dividends and More
- Renatus Tactical Acquisition Corp I (RTACU) is a SPAC targeting crypto and blockchain mergers, with a capped downside risk.
- Liquidia (LQDA) anticipates strong traction for Yutrepia’s launch, with profitability expected within 3 to 4 quarters post-launch.
- Embracer Group (EMBRAC-B:ST) faces delays in AAA game releases, impacting sales estimates, but Coffee Stain spinoff remains on track.
Independent Director Chua Kee Lock Acquires Venture Shares on Open Market
- Institutions were net sellers of Singapore stocks with a S$2 million outflow, totaling S$1.73 billion for 2025.
- Telecommunications and REITs saw highest net outflows; Financial Services and Industrials experienced significant net inflows.
- 18 companies conducted share buybacks totaling S$45 million; Hongkong Land repurchased 1,563,300 shares at US$5.24 each.
Independent Director Chua Kee Lock Acquires Venture Shares on Open Market
- Institutions were net sellers of Singapore stocks with a S$2 million outflow, totaling S$1.73 billion for 2025.
- Telecommunications and REITs saw highest net outflows; Financial Services and Industrials experienced significant net inflows.
- 18 companies conducted share buybacks totaling S$45 million; Hongkong Land repurchased 1,563,300 shares at US$5.24 each.
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