In today’s briefing:
- Shin Kong/Taishin Merger Flows and Perhaps Unforeseen Problems
- FWD IPO Trading – Tepid Demand
- Curator’s Cut: CC Vs DD, Singapore’s IPO Momentum and Pair Trade Ideas Galore
- SPAC Developments, Merger Arbitrage Opportunities, and Strategic Acquisitions
- nib holdings Ltd – The Monday Report – 07 July 2025
Shin Kong/Taishin Merger Flows and Perhaps Unforeseen Problems
- A new factoid about the merger between the Shin Kong Financial Holding (2888 TT) and Taishin Financial Holding (2887 TT) merger of FHCs came to my notice last week.
- There is withholding tax on a portion of the Taishin shares to be received. The last day of trading will be 11 July 2025. Expect repercussions.
- This week will see multiple index events, combined with the risk arb events, and the WHT may affect how passive investors trade the events.
FWD IPO Trading – Tepid Demand
- FWD Group Holdings (1828 HK), a pan-Asian life insurer founded by Richard Li, raised around US$442m in its HK IPO.
- FWD is a pan-Asia life insurer operating in ten markets including Hong Kong (and Macau), Thailand (and Cambodia), Japan, the Philippines, Indonesia, Singapore, Vietnam and Malaysia.
- We looked at the company’s past performance and valuations in our previous notes. In this note we talk about the trading dynamics.
Curator’s Cut: CC Vs DD, Singapore’s IPO Momentum and Pair Trade Ideas Galore
- Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,000+ insights published in the past two weeks on Smartkarma
- In this cut, we compare the top two Chinese ride hailing platforms, the recent momentum in Singapore IPOs and the flurry of pair trade ideas on Smartkarma
- Want to dig deeper? Comment or message with the themes you’d like to see highlighted next
SPAC Developments, Merger Arbitrage Opportunities, and Strategic Acquisitions
- Yorkville Acquisition (YORKU) is a new SPAC sponsored by Yorkville Advisors, with Trump Media executives on its board.
- Banxa (BNXA:V) merger with OSL Group offers a 23% spread; shareholder vote scheduled for August, pending regulatory approval.
- Lifeway Foods (LWAY) board overhaul process initiated by major shareholders; management contests legality, potential buyout talks with Danone.
nib holdings Ltd – The Monday Report – 07 July 2025
- Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead
💡 Before it’s here, it’s on Smartkarma
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