Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>In the KOSPI, Kakao Pay and SK IET deserve our attention. Their prices are 20-25% above the offering prices, and the release size is 10x ADTV. Both are short-selling available.</li>
<li>On the KOSDAQ, Enchem, Dear U, 4by4, and Poongwon Precision are worth paying attention to. They will face a sizable release with the share prices sitting above their offering prices.</li>
<li>However, none of these KOSDAQ names are available for short-selling. So, we should consider underweighting existing positions rather than building up new positions.</li>
</ul>


In the KOSPI, Kakao Pay and SK IET deserve our attention. Their prices are 20-25% above the offering prices, and the release size is 10x ADTV. Both are short-selling available.
On the KOSDAQ, Enchem, Dear U, 4by4, and Poongwon Precision are worth paying attention to. They will face a sizable release with the share prices sitting above their offering prices.
However, none of these KOSDAQ names are available for short-selling. So, we should consider underweighting existing positions rather than building up new positions.


KOSPI/KOSDAQ Lockup Releases: Kakao Pay, SKIET, Enchem, Dear U, 4by4, & Poongwon Precision

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<ul>
<li>In this insight, we discuss end of the mandatory lock-up periods for 40 stocks in Korea in May 2022, among which 4 are in KOSPI and 36 are in KOSDAQ.</li>
<li>These 40 stocks on average could be subject to further selling pressures in May and could underperform relative to the market. </li>
<li>Among these 40 stocks, the following stocks such as Kakao Pay, Enchem, DearU, and 4by4 could face further selling pressures in the coming weeks.</li>
</ul>


In this insight, we discuss end of the mandatory lock-up periods for 40 stocks in Korea in May 2022, among which 4 are in KOSPI and 36 are in KOSDAQ.
These 40 stocks on average could be subject to further selling pressures in May and could underperform relative to the market. 
Among these 40 stocks, the following stocks such as Kakao Pay, Enchem, DearU, and 4by4 could face further selling pressures in the coming weeks.


End of Mandatory Lock-Up Periods for 40 Companies in Korea in May 2022

<ul>
<li>The KOSDAQ 150 rebalancing in June will have nine adds and deletes, respectively.</li>
<li>Additions: <a href="https://www.smartkarma.com/entities/vidente-co-ltd" target="_blank" data-smartkarma-citation="entities:10357:1" rel="noopener">Vidente (121800)</a>, <a href="https://www.smartkarma.com/entities/golfzon-co-ltd" target="_blank" data-smartkarma-citation="entities:35645:1" rel="noopener">GOLFZON (215000)</a>, <a href="https://www.smartkarma.com/entities/hana-micron-inc" target="_blank" data-smartkarma-citation="entities:1464:1" rel="noopener">Hana Micron (067310)</a>, <a href="https://www.smartkarma.com/entities/danal-co-ltd" target="_blank" data-smartkarma-citation="entities:19682:1" rel="noopener">Danal (064260)</a>, <a href="https://www.smartkarma.com/entities/intellian-technologies-inc" target="_blank" data-smartkarma-citation="entities:34895:1" rel="noopener">Intellian Technologies (189300)</a>, <a href="https://www.smartkarma.com/entities/advanced-nano-products-co-lt" target="_blank" data-smartkarma-citation="entities:20170:1" rel="noopener">Advanced Nano (121600)</a>, Neoimmunetech (950220), NKMax (182400), &amp; WYSIWYG (299900) 
</li>
<li>Deletions: <a href="https://www.smartkarma.com/entities/toptec-co-ltd" target="_blank" data-smartkarma-citation="entities:7332:1" rel="noopener">Toptec (108230)</a>, <a href="https://www.smartkarma.com/entities/danawa-co-ltd" target="_blank" data-smartkarma-citation="entities:7191:1" rel="noopener">Danawa (119860)</a>, <a href="https://www.smartkarma.com/entities/optoelectronics-solutions-co" target="_blank" data-smartkarma-citation="entities:2098:1" rel="noopener">Optoelectronics Solutions (138080)</a>, <a href="https://www.smartkarma.com/entities/unison-co-ltd-south-korea" target="_blank" data-smartkarma-citation="entities:18617:1" rel="noopener">Unison (018000)</a>, <a href="https://www.smartkarma.com/entities/daea-ti-co-ltd" target="_blank" data-smartkarma-citation="entities:1473:1" rel="noopener">Daea Ti (045390)</a>, <a href="https://www.smartkarma.com/entities/advanced-process-systems-corporation" target="_blank" data-smartkarma-citation="entities:24087:1" rel="noopener">AP Systems (265520)</a>, <a href="https://www.smartkarma.com/entities/seojin-system-co-ltd" target="_blank" data-smartkarma-citation="entities:24032:1" rel="noopener">Seojin System (178320)</a>, <a href="https://www.smartkarma.com/entities/wonik-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:6485:1" rel="noopener">Wonik Holdings (030530)</a>, &amp; <a href="https://www.smartkarma.com/entities/rsupport-co-ltd" target="_blank" data-smartkarma-citation="entities:14783:1" rel="noopener">Rsupport (131370)</a> </li>
</ul>


The KOSDAQ 150 rebalancing in June will have nine adds and deletes, respectively.
Additions: Vidente (121800), GOLFZON (215000), Hana Micron (067310), Danal (064260), Intellian Technologies (189300), Advanced Nano (121600), Neoimmunetech (950220), NKMax (182400), &amp; WYSIWYG (299900) 

Deletions: Toptec (108230), Danawa (119860), Optoelectronics Solutions (138080), Unison (018000), Daea Ti (045390), AP Systems (265520), Seojin System (178320), Wonik Holdings (030530), &amp; Rsupport (131370) 


KOSDAQ 150 Rebalancing: Changes & Passive Impacts

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

<ul>
<li>With over 80% of the averaging in the review period complete, we see 15 potential changes to the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a> at the June rebalance.</li>
<li>11 of the 15 changes are high/medium probability and it will take large moves over the rest of the review period for these stocks to drop out of the list.</li>
<li>Four potential inclusions have more than 3 days of ADV to buy from passives, while nine potential deletions have more than 3 days of ADV to sell from passives.</li>
</ul>


With over 80% of the averaging in the review period complete, we see 15 potential changes to the KOSDAQ 150 Index (KOSDQ150 INDEX) at the June rebalance.
11 of the 15 changes are high/medium probability and it will take large moves over the rest of the review period for these stocks to drop out of the list.
Four potential inclusions have more than 3 days of ADV to buy from passives, while nine potential deletions have more than 3 days of ADV to sell from passives.


KOSDAQ150 Index Rebalance Preview (June): Potential Inclusions Starting to Outperform

<ul>
<li>We have ten likely changes based on the average market cap from November 1 last year to the previous close.</li>
<li>Among the additions, the passive impacts of NKMax (182400), Golfzon (215000), and Intellian Technologies (189300) are estimated to be relatively large.</li>
<li>Amond the deletions, the passive impacts of JNTC (204270), Optoelectronics Solutions (138080), Wonik Holdings (030530), Unison (018000), and Toptec (108230) are expected to be relatively substantial at the current DTV.</li>
</ul>


We have ten likely changes based on the average market cap from November 1 last year to the previous close.
Among the additions, the passive impacts of NKMax (182400), Golfzon (215000), and Intellian Technologies (189300) are estimated to be relatively large.
Amond the deletions, the passive impacts of JNTC (204270), Optoelectronics Solutions (138080), Wonik Holdings (030530), Unison (018000), and Toptec (108230) are expected to be relatively substantial at the current DTV.


KOSDAQ 150 Rebalancing Screening & Passive Impacts: 10 Likely Changes

South Korea

ENCHEM Co.,Ltd. produces and sells electrolyte and functional additives. The Company develops, manufactures and markets lithium rechargeable batteries electrolytes, polymer batteries electrolytes, high functionality additives, and other products. ENCHEM markets its products primarily throughout Korea with limited overseas.

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Enchem (348370 KS)

KOSPI/KOSDAQ Lockup Releases: Kakao Pay, SKIET, Enchem, Dear U, 4by4, & Poongwon Precision

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Sanghyun Park

End of Mandatory Lock-Up Periods for 40 Companies in Korea in May 2022

In this insight, we discuss end of the mandatory lock-up periods for 40 stocks in Korea in May 2022. These stocks could be subject to further...

Douglas Kim

KOSDAQ 150 Rebalancing: Changes & Passive Impacts

This post offers the changes (9 additions and deletions, respectively) and their passive impacts (x ADTV) in the KOSDAQ 150 rebalancing in June.

Sanghyun Park

KOSDAQ150 Index Rebalance Preview (June): Potential Inclusions Starting to Outperform

With 80% of the review period complete, there are 15 potential index changes. The potential inclusions have started to outperform the index and the...

Brian Freitas

KOSDAQ 150 Rebalancing Screening & Passive Impacts: 10 Likely Changes

KOSDAQ 150 rebalancing screening at present shows that there are ten likely changes. This post estimates the passive impact size of each change...

Sanghyun Park

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