In today’s briefing:
- Merger Arb Mondays (03 Oct) – Genex, Pendal, Alliance Aviation, Fengxiang, Lifestyle Intl, VNET, 111
- China Power International (2380 HK): We Think Good Opportunities Are Presented
Merger Arb Mondays (03 Oct) – Genex, Pendal, Alliance Aviation, Fengxiang, Lifestyle Intl, VNET, 111
- We summarise the latest spreads and newsflow of merger arb situations covered by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand and Chinese ADRs.
- Highest spreads – Shandong Fengxiang (9977 HK), Alliance Aviation Services (AQZ AU), 21Vianet Group (VNET US), 111 Inc (YI US), Genex Power Ltd (GNX AU), Pendal Group (PDL AU).
- Lowest spreads OZ Minerals Ltd (OZL AU), Tyro Payments (TYR AU), Nitro Software Ltd (NTO AU), MACA Ltd (MLD AU), Jinke Smart Services (9666 HK), True Corp Pcl (TRUE TB).
China Power International (2380 HK): We Think Good Opportunities Are Presented
- China Power International (2380 HK) is the hardest hit in this round of market sell-off with a 28.9% plunge in share price in Sep – we think this is overdone.
- Coal-Fired margin, which is the key drag in 1H22, will improve in 2H22. Its clean energy segment has performed well, and new capacity acquired will start to provide contribution.
- Its strategic transformation target of over 90% of capacity from new energy by 2025, up from 50.7% in 1H22, has not changed. Parent asset injection will generate massive upside potential.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
