Una's Feed
Mar 24, 2014
via Breakingviews

Li Ka-shing de-risks with $6 bln Temasek sale

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By Una Galani

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Li Ka-shing is de-risking. The Hong Kong tycoon has ditched plans to list his retail division AS Watson in favour of selling a 24.95 percent stake to Temasek for $5.7 billion. The deal crystallises a decent valuation for Li without the uncertainties of an initial public offering (IPO). For the Singaporean state fund, it’s a bold bet on consumer growth and private investments.

Mar 20, 2014

Indian government seeks to cash in on Modi rally

(The author is a Reuters Breakingviews columnist. The opinions
expressed are her own.)

By Una Galani

HONG KONG, March 20 (Reuters Breakingviews) – The state
hopes to partially offload stakes in 10 listed companies through
an exchange-traded fund. If the offer succeeds, it will boost
privatization proceeds. It would also allow the current
government to benefit from market hopes that rival Narendra Modi
will win the election.

Mar 4, 2014
via Breakingviews

Li Ka-shing dual listing plan more than cosmetic

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By Una Galani

The author is a Reuters Breakingviews columnist.  The opinions expressed are her own.

Li Ka-shing’s dual listing plan may be more than just a vanity project. The tycoon wants to float his A.S. Watson unit in London or Singapore as well as Hong Kong. For most companies the attractions of multiple listings are skin deep. But if the retail group can claw its way into several benchmark indices, it could prove an exception.

Mar 4, 2014
via Breakingviews

Li Ka-shing dual listing plan more than cosmetic

Photo

By Una Galani

The author is a Reuters Breakingviews columnist.  The opinions expressed are her own.

Li Ka-shing’s dual listing plan may be more than just a vanity project. The tycoon wants to float his A.S. Watson unit in London or Singapore as well as Hong Kong. For most companies the attractions of multiple listings are skin deep. But if the retail group can claw its way into several benchmark indices, it could prove an exception.

Feb 27, 2014
via Breakingviews

SoftBank’s Alibaba stake both blessing and burden

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By Una Galani

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

SoftBank’s investment in Alibaba must be one of the most successful of all time. Billionaire chief Masayoshi Son injected just $20 million into the Chinese e-commerce giant in 2000. Today, the 36.7 percent shareholding accounts for a large chunk of Japanese group’s market value. As Alibaba heads toward an initial public offering, however, Son’s investment blessing may become a burden.

Feb 27, 2014
via Breakingviews

SoftBank’s Alibaba stake both blessing and burden

Photo

By Una Galani

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

SoftBank’s investment in Alibaba must be one of the most successful of all time. Billionaire chief Masayoshi Son injected just $20 million into the Chinese e-commerce giant in 2000. Today, the 36.7 percent shareholding accounts for a large chunk of Japanese group’s market value. As Alibaba heads toward an initial public offering, however, Son’s investment blessing may become a burden.

Feb 21, 2014
via Breakingviews

Thai telco bets on yield to defy political turmoil

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By Una Galani

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Thailand’s telecom operators are relying on yield to defy the country’s political turmoil. Escalating protests and low valuations make it an odd time for a financially healthy company like Jasmine International to pursue a $1.4 billion spinoff. Though the plan to give its broadband infrastructure assets a separate listing makes financial sense, investors may need to be tempted with sweeteners.

Feb 21, 2014
via Breakingviews

Thai telco bets on yield to defy political turmoil

Photo

By Una Galani

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Thailand’s telecom operators are relying on yield to defy the country’s political turmoil. Escalating protests and low valuations make it an odd time for a financially healthy company like Jasmine International to pursue a $1.4 billion spinoff. Though the plan to give its broadband infrastructure assets a separate listing makes financial sense, investors may need to be tempted with sweeteners.

Feb 18, 2014
via Breakingviews

China copper IPO seeks gold in financial recycling

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By Una Galani

The author is a Reuters Breakingviews columnist.  The opinions expressed are her own.

Financial recycling is putting a gold polish on the initial public offering of a Chinese copper company. Just 15 months after it quit the New York Stock Exchange, China Metal Resources Utilization is set to go public in Hong Kong at 10 times its last market value. It’s the first of a large group of unloved stocks to perform the “Chinese flip”, exploiting the valuation gap between U.S. and Hong Kong exchanges.

Feb 18, 2014
via Breakingviews

China copper IPO seeks gold in financial recycling

Photo

By Una Galani

The author is a Reuters Breakingviews columnist.  The opinions expressed are her own.

Financial recycling is putting a gold polish on the initial public offering of a Chinese copper company. Just 15 months after it quit the New York Stock Exchange, China Metal Resources Utilization is set to go public in Hong Kong at 10 times its last market value. It’s the first of a large group of unloved stocks to perform the “Chinese flip”, exploiting the valuation gap between U.S. and Hong Kong exchanges.

    • About Una

      "Una Galani is Asia Corporate Finance Columnist of Reuters Breakingviews, based in Hong Kong. She spent three years in Dubai covering the region’s economies in the immediate aftermath of the Arab Spring. Previously, Una wrote on capital markets, mergers and acquisitions, and telecoms across Europe from London. She was commended in the category of Young Financial Journalist at the Harold Wincott Awards for 2009 after joining Breakingviews in 2006. Una read English Literature at Oxford. Follow Una on Twitter @ugalani"
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