In today’s briefing:
- [Japan M&A] Mitsubishi Logisnext (7105) – The Deal Still Looks Mighty Good
- TIP Taiwan Value High Dividend Index Rebalance: 10 Changes Implemented This Week; US$2.2bn Trade
- CATL A/H Trading – Strong Demand, Upsized, Included in Short-Sell List
- HOVR: Is liftoff on the horizon? Initiating coverage of an early-stage eVTOL manufacturer.
[Japan M&A] Mitsubishi Logisnext (7105) – The Deal Still Looks Mighty Good
- On 9 May Mitsubishi Logisnext Co., Ltd. (7105 JP) delayed earnings by 30 minutes. Shares popped. Then earnings were released, no deal, and shares crashed. Now they are rebounding.
- But they remain volatile and subject to dips like the one this AM -5% at one point. Fears may be due to the idea that first smoke here was Dec-2024.
- 5 months later, no deal yet. Bids were due pre-earnings but with tariffs and writedowns, one wonders if bidders were waiting for results.
TIP Taiwan Value High Dividend Index Rebalance: 10 Changes Implemented This Week; US$2.2bn Trade
- There are 10 changes for the TIP Taiwan Value High Dividend Index in May. The Yuanta Taiwan Value High Dividend ETF (00940 TT) has an AUM of US$4.4bn.
- Estimated one-way turnover is 25.2% and there are 12 stocks with over 4 days of ADV to trade. The rebalance commenced yesterday and will end on Friday.
- An equal weighted basket of inclusions has outperformed an equal weighted basket of deletions over the last month. That could continue near-term as the ETF continues to rebalance their portfolio.
CATL A/H Trading – Strong Demand, Upsized, Included in Short-Sell List
- Contemporary Amperex Technology (CATL) (300750 CH), one of the world’s largest battery solutions providers, raised around US$5.2bn in its H-share listing.
- Contemporary Amperex Technology (3750 HK) is the global leader in new energy vehicle battery solutions, in China and globally, as per SNE Research. Its A-shares have been listed since 2018.
- We have looked at the company’s past performance and valuations in our earlier notes. In this note, we talk about the trading dynamics.
HOVR: Is liftoff on the horizon? Initiating coverage of an early-stage eVTOL manufacturer.
- Horizon Aircraft (NASDAQ: HOVR) is an early-stage aerospace OEM that is developing a hybrid electric vertical takeoff and landing (“eVTOL”) aircraft for the regional air mobility market.
- The company’s fan-in-wing design is unique in the eVTOL market and will allow its vehicles to take off and land vertically like a helicopter but fly horizontally like a standard fixed-wing aircraft once airborne.
- The aircraft will be capable of traveling further, faster, and more efficiently than any other pure eVTOL aircraft currently in development.
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