Water index feeds off sugar high

摘要

All segments of the GWI Global Water Index hit new highs this month, with the exception of Asia, which continues to lag well behind the rest of the world. This is despite the three best-performing stocks this month being headquartered in Asia (the performance table was led by Beijing Water Business Doctor, where an aggressive share buyback helped the shares advance by more than 30%). Action on the IPO front stepped up this month, as Anaergia priced a long-anticipated offering, while Core & Main was set to follow as GWI went to press. Meanwhile, Saudi Arabian water and power project developer ACWA Power received approval from the country's Capital Market Authority to float 11.1% of its equity on the stock exchange within the next six months.