E Raising Money In Canada

*Thanks to its declaration of a 19 cent (US) dividend for August, Canadian Pembina Pipeline. PBA, rose 0.34% on Wednesday. PBA has a good history of raising its dividends. It acquired our Veresen last year.

*Sociedad Quimica y Minera de Chile disappointed the audience at the Santiago Lithium Forum yesterday. SQM said it would grow its business in nitrates, and iodine, and will acquire more assets to produce potassium. It will add lithium assets as well but only when competitively priced. Initially, the stock fell in US trading but then recovered and is now up 1.3%.

Tech

*Tencent rose in US trading after the tech group helped fund the community-based e-commerce platform Haoyiku which raised millions of RMB in a B financing round. As the lead investor, TCEHY kept its link with WeChat part of Haoyiku's future. Tencent was given a new target price of $59 and a buy rating by Barclays analysts, a 30% upside from its current price.

*Mazor Robotics was slashed to sell from hold by Zacks after a meh quarterly report. We invest for longer and remain with MZOR despite the impact of its Medtronics distribution contract in Q2.

Funds

*Latin American Discovery Fund, a closed-end fund, is seeking shareholder approval to liquidate. LDF after its board threw in the towel.

*Japan Smaller Cap fell 3% after it produced a report for our SEC showing how it votes in favor of management in most proxy fights. JOF reported on how pro-management it is yesterday but I didn't write it up; had it shown negative proxy votes I would have.

*Saba Group continues to sell Templeton Emerging Income Fund, TEI, on the assumption that US rate rises will hurt developing country bond markets. Saba is official from Bermuda.

*Oops. Azure Power Global Ltd uses a March 30 fiscal year not a calendar year so it will report on its Q1 and raise more capital, not on its first half.

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