Vedanta Ltd

Vedanta ADR Clean-Up Offering

Event-Driven
245 Views, 19 Jan 2022 01:50
EXECUTIVE SUMMARY
  • Vedanta Limited decided to delist its ADRs last autumn. They were delisted but the process of unwinding them comes down to selling the unconverted ADR underlying shares. 
  • Citi is conducting an offering to sell those underlying shares. This will aid in setting the unwind price for existing but unsettled listed ADR derivatives (yay).
  • The offering itself is just over 1% of shares out, 4% of float, and 12% of foreign portfolio investor holdings. Not huge, but the trend vs peers gives one pause.
detail (5-minute read)
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Travis Lundy
Pan-Asia Catalysts/Events
Quiddity Advisors
Japan & Hong KongEquitiesEvent-DrivenQuantitative Analysis

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL") BACKGROUND I have 20+yrs experience in A... 

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