StanChart, UBS help stitch up $4b lithium deal
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Orocobre and Galaxy Resourcesâ boards have cast their egos aside in an effort to create a top-100 Australian listed company and attract big institutional investors from around the world.
Galaxy Resourcesâ Sal de Vida is close to Orocobreâs Olaroz project in Argentina.Â
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After years of eyeing each other offer, and two years after the pair almost agreed a transaction, Orocobre and Galaxy got in a room and agreed a merger of equals that was designed to create a $4 billion company and top five global lithium chemicals company by market capitalisation.
The Short Report - 25 Feb 2021 fnarena.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fnarena.com Daily Mail and Mail on Sunday newspapers.
Summary:
Week ending February 11, 2021.
Wow. Never in the history of this Report has one week seen so little change in short positions on the ASX, by a considerable margin.
The ASX200 posted a net rally over the week, once the whole GameStop debacle ended. We might put such a lack of shorting activity down to it being the first week of the local results season, but so few are the reports in the first week this seems unrealistic.
I might be forced to suspect a possible problem with ASIC data, but there
was some shuffling around of stocks in each percentage bracket, a couple of moves of more than one percentage point in the 10%-plus bracket, and EML Payments ((EML)) did slip a bracket, to 5.8% from 6.5%.
Switzer Daily
What is short selling & what stocks are now being shorted?
12 February 2021
Could the ASX become subject to the same trading shenanigans in the US that put a rocket up the share price of struggling video outlet operator GameStop and then the silver market?
It’s certainly food for short … er, thought.
This month, shares in online travel agent
Webjet (WEB) have climbed around 10% as online trading communities seek to
replicate the “short squeeze” that pushed GameStop stock up more than
threefold.
It’s no coincidence that Webjet is the most
short-sold stock on the ASX, having borne the brunt of the travel sector’s
ASX firms 0.5pc, buoyed by buy now, pay later sector
Feb 10, 2021 – 4.49pm
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A rally in tech shares helped the S&P/ASX 200 rises 0.52 per cent to 6856.9 points over a busy day of earnings headlined by a better-than-expected $1.50 per share dividend payout from the Commonwealth Bank.
The S&P/ASX All Tech sector led the gains to close up 2.2 per cent as buy now, pay later juggernaut Afterpay added 4.2 per cent to close at a record high $158.46 on a $45.1 billion valuation. Junior rival Zip Co advanced 12.2 per cent to a record closing high of $10.70; it is up 23.2 per cent over the week.