In today’s briefing:
- Index Rebalance & ETF Flow Recap: MSCI, S&P/ASX, Alibaba, SK Tel, Thai Life Insurance
- Soosan Industries IPO Trading – Weak Subscription Rates Don’t Make for a Rosy Debut
Index Rebalance & ETF Flow Recap: MSCI, S&P/ASX, Alibaba, SK Tel, Thai Life Insurance
- Last Friday saw the end of the review period for the upcoming rebalance of the MSCI, NIFTY, NKY and STAR50 indices, among others.
- The coming week has the implementation of the Philippines Stock Exchange PSEi Index (PCOMP INDEX) and NIFTY100 Index rebalances at the close on 5 August.
- There were big inflows to the Tracker Fund of Hong Kong Ltd (2800 HK) last week with over US$500m flowing in.
Soosan Industries IPO Trading – Weak Subscription Rates Don’t Make for a Rosy Debut
- Soosan Industries (126720 KS) raised around US$153m in its South Korea IPO, after the deal was priced at the bottom end of its IPO price range.
- Subscription rates for SSI have been tepid, to say the least, and previous deals with similar subscription rates as that to SSI’s have had dismal debuts.
- A lack of instis opting for lockup meant that a large percentage of outstanding shares will be available for trading on debut.
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