In today’s briefing:
- Thai Life Insurance IPO: Valuation Insights
- “Global ESG Funds Invest Less in Japanese Equities.” Why Is This?
- Reading On-Chain Data
Thai Life Insurance IPO: Valuation Insights
- Thai Life Insurance (TLI TB) will open its book for a US$1 billion raise from 29 June to 14 July. The IPO price has been set at THB16.00 per share.
- We previously discussed the IPO in Thai Life Insurance IPO: The Bull Case and Thai Life Insurance IPO: The Bear Case.
- Peer analysis suggests that Thai Life should trade at a modest premium to Bangkok Life but at a material discount to AIA. Consequently, the IPO valuation is full.
“Global ESG Funds Invest Less in Japanese Equities.” Why Is This?
- I would like to discuss about the Nikkei article that says “The number of global ESG funds investing in Japanese equities is low.
- The actual substance of their initiatives hasn’t reached certain level, their information disclosure is insufficient for overseas investors, and their investment returns are inferior to those of other portfolio companies.
- These improvements can be made by the managers themselves. However, ironically, greenwashing has not been an issue in Japan due to the lack of proactive disclosure of ESG-related information.
Reading On-Chain Data
- Over the next couple of weeks, we will cover a new series titled Bear Market Tactics.
- Bear markets are never easy to navigate as an investor in crypto; more often than not, you have to deal with price swings greater than those in the traditional market and sift through a wider variety of investment options that may have very little to no investment value.
- So how does one begin to understand where this market is headed, or when is a good time to start investing?
Before it’s here, it’s on Smartkarma
