Wilmar recently caught my attention. It has fallen approximately 11% from an intraday high of $4.95 on 7 Aug 2020 to close $4.41 on 1 Sep 2020.
Six points attracted me to Wilmar. Let’s take a look.
- Imminent catalyst i.e YKA IPO – left one approval to go
Wilmar cited that its Chinese subsidiary, Yihai Kerry Arawana Holdings Co., Ltd (“YKA”), has obtained listing clearance from the Shenzhen Stock Exchange (“SZSE”) ChiNext Board Listing Committee (the “Committee”) and has submitted the updated prospectus to the China Securities Regulatory Commission (“CSRC”) for final registration approval for listing on SZSE ChiNext Board on 10 Aug 2020.
In other words, based on CGS-CIMB Securities’ report dated 12 Aug 2020, the report cited that Wilmar is hoping to list YKA this month as it is only one approval away from listing.
- Market may have underestimated impact of YKA IPO on Wilmar
In the same report by CGS-CIMB...
