Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<div class="content-highlight">
<p><a href="https://www.smartkarma.com/entities/lg-international-corp" target="_blank" data-smartkarma-citation="entities:3281:1" rel="noopener">LG International (001120 KS)</a> is the 6th company we introduce in our<strong> "Korea Small Cap Gem"</strong> series. LG International is one of the seven major trading companies in Korea that could receive a greater positive boost from the global institutional investors who seek to find similar companies to the Japanese trading companies invested by Warren Buffett.</p>
<p>LG International was one of the seven Korean trading companies we mentioned in our report <a href="https://www.smartkarma.com/insights/buffett-s-investments-in-japanese-trading-companies-positive-boost-to-korean-trading-companies" target="_blank" data-smartkarma-citation="insights:43239" rel="noopener">Buffett's Investments in Japanese Trading Companies - Positive Boost to Korean Trading Companies?</a> </p>
</div>


LG International (001120 KS) is the 6th company we introduce in our "Korea Small Cap Gem" series. LG International is one of the seven major trading companies in Korea that could receive a greater positive boost from the global institutional investors who seek to find similar companies to the Japanese trading companies invested by Warren Buffett.
LG International was one of the seven Korean trading companies we mentioned in our report Buffett's Investments in Japanese Trading Companies - Positive Boost to Korean Trading Companies? 


Founder & CEO Bond Angle, LLC, Bond Angle, LLC

Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

High yield market investment research

Credit

<p><strong><a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> may buy as much as 10% in LG Energy Solution, the battery business about to be spun off by <a href="https://www.smartkarma.com/entities/lg-chem-ltd" target="_blank" data-smartkarma-citation="entities:3583:1" rel="noopener">LG Chem Ltd (051910 KS)</a></strong><a href="https://www.smartkarma.com/entities/lg-chem-ltd" target="_blank" data-smartkarma-citation="entities:3583:1" rel="noopener"></a><strong>,</strong> according to unnamed sources talking to <a href="https://www.koreatimes.co.kr/www/tech/2020/09/419_296818.html" target="_blank" rel="noopener">Korean Times</a>.</p><div class="content-highlight"><p><em>Read on for <strong>Bond Angle</strong> take: What this may signal for Tesla, LG Energy, and LG Chem.</em></p></div>

Tesla Motors (TSLA US) may buy as much as 10% in LG Energy Solution, the battery business about to be spun off by LG Chem Ltd (051910 KS), according to unnamed sources talking to Korean Times.Read on for Bond Angle take: What this may signal for Tesla, LG Energy, and LG Chem.

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Quantitative Analysis

<div><p>The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong Kong, Japan, Korea and Taiwan using the last available data published by the relevant authorities.</p></div><div><p>Hong Kong saw shorts rise on <a href="https://www.smartkarma.com/entities/semiconductor-manufacturing" target="_blank" data-smartkarma-citation="entities:14231:1" rel="noopener">Semiconductor Manufacturing (981 HK)</a>, <a href="https://www.smartkarma.com/entities/ping-an-insurance-grp-co-of-china-ltd" target="_blank" data-smartkarma-citation="entities:12880:1" rel="noopener">Ping An Insurance (H) (2318 HK)</a>, <a href="https://www.smartkarma.com/entities/zhaojin-mining-industry-company-ltd-h" target="_blank" data-smartkarma-citation="entities:4626:1" rel="noopener">Zhaojin Mining Industry H (1818 HK)</a> and <a href="https://www.smartkarma.com/entities/longfor-properties" target="_blank" data-smartkarma-citation="entities:8149:1" rel="noopener">Longfor Properties (960 HK)</a>, while there was short covering on <a href="https://www.smartkarma.com/entities/alibaba-group" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a>, <a href="https://www.smartkarma.com/entities/meituan-dianping" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan Dianping (3690 HK)</a>, <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (HK) (9618 HK)</a> and <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a>. Shorts increased in Information Technology and Materials and were covered in Consumer Discretionary, Communication Services and Financials.</p></div><div><p>Japan saw big increases and decreases in short interest across stocks in a short trading week with the markets closed on Monday and Tuesday. With the large increase and decrease in short interest across stocks linked to the same market participant, we would assume that there are positions linked to funding/ dividend trades being switched ahead of the September ex-dividend date.</p></div><div><p>Stocks in Korea that saw the most shorts were <a href="https://www.smartkarma.com/entities/shinpoong-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:7296:1" rel="noopener">Shinpoong Pharmaceutical (019170 KS)</a>, <a href="https://www.smartkarma.com/entities/alteogen-inc" target="_blank" data-smartkarma-citation="entities:15886:1" rel="noopener">Alteogen Inc (196170 KS)</a>, <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> and <a href="https://www.smartkarma.com/entities/celltrion-pharm-inc" target="_blank" data-smartkarma-citation="entities:992:1" rel="noopener">Celltrion Pharm (068760 KS)</a>, while there was short covering on <a href="https://www.smartkarma.com/entities/lg-chem-ltd" target="_blank" data-smartkarma-citation="entities:3583:1" rel="noopener">LG Chem Ltd (051910 KS)</a>.</p></div><div><p>Stocks in Taiwan that saw the highest increase in shorts were <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-company" target="_blank" data-smartkarma-citation="entities:11230:1" rel="noopener">TSMC (2330 TT)</a>, <a href="https://www.smartkarma.com/entities/evergreen-marine-corp-ltd" target="_blank" data-smartkarma-citation="entities:15428:1" rel="noopener">Evergreen Marine Corp (2603 TT)</a>, <a href="https://www.smartkarma.com/entities/genius-electronic-optical-co-ltd" target="_blank" data-smartkarma-citation="entities:9632:1" rel="noopener">Genius Electronic Optical (3406 TT)</a> and <a href="https://www.smartkarma.com/entities/shin-kong-financial-holding" target="_blank" data-smartkarma-citation="entities:15351:1" rel="noopener">Shin Kong Financial Holding (2888 TT)</a> while shorts were covered on <a href="https://www.smartkarma.com/entities/chung-hsin-electric-machinery-mfg-corp" target="_blank" data-smartkarma-citation="entities:3380:1" rel="noopener">Chung Hsin Electric &amp; Machinery Mfg (1513 TT)</a>, <a href="https://www.smartkarma.com/entities/macronix-international" target="_blank" data-smartkarma-citation="entities:3247:1" rel="noopener">Macronix International (2337 TT)</a>, <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" data-smartkarma-citation="entities:13212:1" rel="noopener">Yageo Corporation (2327 TT)</a> and <a href="https://www.smartkarma.com/entities/nan-ya-printed-circuit-board-corporation" target="_blank" data-smartkarma-citation="entities:2699:1" rel="noopener">Nan Ya Printed Circuit Board (8046 TT)</a>.</p></div>

The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong Kong, Japan, Korea and Taiwan using the last available data published by the relevant authorities.Hong Kong saw shorts rise on Semiconductor Manufacturing (981 HK), Ping An Insurance (H) (2318 HK), Zhaojin Mining Industry H (1818 HK) and Longfor Properties (960 HK), while there was short covering on Alibaba Group (9988 HK), Meituan Dianping (3690 HK), JD.com (HK) (9618 HK) and Xiaomi Corp (1810 HK). Shorts increased in Information Technology and Materials and were covered in Consumer Discretionary, Communication Services and Financials.Japan saw big increases and decreases in short interest across stocks in a short trading week with the markets closed on Monday and Tuesday. With the large increase and decrease in short interest across stocks linked to the same market participant, we would assume that there are positions linked to funding/ dividend trades being switched ahead of the September ex-dividend date.Stocks in Korea that saw the most shorts were Shinpoong Pharmaceutical (019170 KS), Alteogen Inc (196170 KS), Samsung Electronics (005930 KS) and Celltrion Pharm (068760 KS), while there was short covering on LG Chem Ltd (051910 KS).Stocks in Taiwan that saw the highest increase in shorts were TSMC (2330 TT), Evergreen Marine Corp (2603 TT), Genius Electronic Optical (3406 TT) and Shin Kong Financial Holding (2888 TT) while shorts were covered on Chung Hsin Electric &amp; Machinery Mfg (1513 TT), Macronix International (2337 TT), Yageo Corporation (2327 TT) and Nan Ya Printed Circuit Board (8046 TT).

Asia Short Interest Weekly: SMIC, Zhaojin, Longfor, JD, Shinpoong, Alteogen, Japan Dividend Ex-Date

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

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Event-Driven

<p>LG Chem is down 13.6% in the last four trading days. It is now 20% down from the 52W high.</p><p>Mainly local retail has led the recent selling. The demerger itself isn't the problem. The type of demerger (physical division) angers many local investors.</p><p>They argue it should be an equity spinoff, which gives them a direct chance to cash in on the battery unit's IPO. </p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="7" rowspan="1" data-sheets-value='{"1":2,"2":"Status (₩B)"}'>Status (₩B)</td></tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":"Name"}'>Name</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "name")' data-sheets-numberformat='[null,4,"[$₩]#,##0"]' data-sheets-value='{"1":2,"2":"LG Chem Ltd"}'>LG Chem Ltd</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":"Ticker"}'>Ticker</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='="051910"' data-sheets-numberformat='[null,4,"[$₩]#,##0"]' data-sheets-value='{"1":2,"2":"051910"}'>051910</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":"Market cap"}'>Market cap</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=R[1]C[0]*R[9]C[0]/1000000000" data-sheets-numberformat='[null,2,"#,##0.0"]' data-sheets-value='{"1":3,"3":44261.399061}'>44,261.4</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":"Price"}'><strong>Price</strong></td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "price")' data-sheets-numberformat='[null,4,"[$₩]#,##0"]' data-sheets-value='{"1":3,"3":627000}'><strong>₩627,000</strong></td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'><strong>-</strong></td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":" - Previous"}'><strong>- Previous</strong></td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "closeyest")' data-sheets-numberformat='[null,4,"[$₩]#,##0"]' data-sheets-value='{"1":3,"3":666000}'><strong>₩666,000</strong></td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=(R5C[-3]-R[0]C[-3])/R[0]C[-3]" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":-0.05855855855855856}'><strong>-5.86%</strong></td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":" - Open"}'>- Open</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "priceopen")' data-sheets-numberformat='[null,4,"[$₩]#,##0"]' data-sheets-value='{"1":3,"3":656000}'>₩656,000</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=(R5C[-3]-R[0]C[-3])/R[0]C[-3]" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":-0.04420731707317073}'>-4.42%</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":" - High"}'>- High</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "high")' data-sheets-numberformat='[null,4,"[$₩]#,##0"]' data-sheets-value='{"1":3,"3":657000}'>₩657,000</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=(R5C[-3]-R[0]C[-3])/R[0]C[-3]" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":-0.045662100456621}'>-4.57%</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":" - Low"}'>- Low</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "low")' data-sheets-numberformat='[null,4,"[$₩]#,##0"]' data-sheets-value='{"1":3,"3":626000}'>₩626,000</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=(R5C[-3]-R[0]C[-3])/R[0]C[-3]" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.001597444089456869}'>0.16%</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":"52W high"}'><strong>52W high</strong></td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "high52")' data-sheets-numberformat='[null,4,"[$₩]#,##0"]' data-sheets-value='{"1":3,"3":785000}'><strong>₩785,000</strong></td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=(R5C[-3]-R[0]C[-3])/R[0]C[-3]" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":-0.20127388535031848}'><strong>-20.13%</strong></td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":"52W low"}'>52W low</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "low52")' data-sheets-numberformat='[null,4,"[$₩]#,##0"]' data-sheets-value='{"1":3,"3":230000}'>₩230,000</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=(R5C[-3]-R[0]C[-3])/R[0]C[-3]" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":1.7260869565217392}'>172.61%</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":"Trading volume"}'>Trading volume</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "volume")' data-sheets-numberformat='[null,2,"#,##0"]' data-sheets-value='{"1":3,"3":1238071}'>1,238,071</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":" - SO"}'>- SO</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "shares")' data-sheets-numberformat='[null,2,"#,##0"]' data-sheets-value='{"1":3,"3":70592343}'>70,592,343</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":" - % of SO"}'>- % of SO</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=R[-2]C[0]/R[-1]C[0]" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.017538318568063396}'>1.75%</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":"Trading value"}'>Trading value</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=R[-3]C[0]*R[-10]C[0]/1000000000" data-sheets-numberformat='[null,2,"#,##0.0"]' data-sheets-value='{"1":3,"3":776.270517}'>776.3</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":"DTV"}'>DTV</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula='=googlefinance(R3C[0], "volumeavg")' data-sheets-numberformat='[null,2,"#,##0"]' data-sheets-value='{"1":3,"3":883248}'>883,248</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":" - Value"}'>- Value</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=R[-1]C[0]*R[-12]C[0]/1000000000" data-sheets-numberformat='[null,2,"#,##0.0"]' data-sheets-value='{"1":3,"3":553.796496}'>553.8</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-numberformat='[null,5,"m\"/\"d\"/\"yy"]' data-sheets-value='{"1":2,"2":" - % of SO"}'>- % of SO</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-formula="=R[-2]C[0]/R[-5]C[0]" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.012511951898239162}'>1.25%</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr><td colspan="7" rowspan="1" data-sheets-value='{"1":2,"2":"Source: KRX &amp; Google Finance"}'><em>Source: KRX &amp; Google Finance</em></td></tr>
</tbody>
</table>

LG Chem is down 13.6% in the last four trading days. It is now 20% down from the 52W high.Mainly local retail has led the recent selling. The demerger itself isn't the problem. The type of demerger (physical division) angers many local investors.They argue it should be an equity spinoff, which gives them a direct chance to cash in on the battery unit's IPO. 










Status (₩B)

Name
LG Chem Ltd
-


Ticker
051910
-


Market cap
44,261.4
-


Price
₩627,000
-


- Previous
₩666,000
-5.86%


- Open
₩656,000
-4.42%


- High
₩657,000
-4.57%


- Low
₩626,000
0.16%


52W high
₩785,000
-20.13%


52W low
₩230,000
172.61%


Trading volume
1,238,071
-


- SO
70,592,343
-


- % of SO
1.75%
-


Trading value
776.3
-


DTV
883,248
-


- Value
553.8
-


- % of SO
1.25%
-

Source: KRX &amp; Google Finance



LG Chem Divestiture: Shareholder Voting Race & Swing-Back Trade Opportunity

<p>In this insight, we compare <a href="https://www.smartkarma.com/entities/lg-chem-ltd" target="_blank" data-smartkarma-citation="entities:3583:1" rel="noopener">LG Chem Ltd (051910 KS)</a>'s carve-out and <a href="https://www.smartkarma.com/entities/sk-innovation-co-ltd" target="_blank" data-smartkarma-citation="entities:1268:1" rel="noopener">SK Innovation (096770 KS)</a>'s spin-off of their rechargeable battery businesses. Interestingly, the formal announcements of the IPOs of these two businesses resulted in different price reactions of their parent companies. </p><p><strong>Why Are the Share Price Reactions of LG Chem &amp; SK Innovation So Different? </strong></p><ul>
<li><strong>Tesla Effect</strong></li>
<li>
<strong>Uncertainty in the post carve-out </strong><strong>dilution</strong>
</li>
<li><strong>Valuations of high vs low multiples business units </strong></li>
</ul>

In this insight, we compare LG Chem Ltd (051910 KS)'s carve-out and SK Innovation (096770 KS)'s spin-off of their rechargeable battery businesses. Interestingly, the formal announcements of the IPOs of these two businesses resulted in different price reactions of their parent companies. Why Are the Share Price Reactions of LG Chem &amp; SK Innovation So Different? 
Tesla Effect

Uncertainty in the post carve-out dilution

Valuations of high vs low multiples business units 


Comparison of LG Chem's Carve-Out & SK Innovation's Spin-Off of Rechargeable Battery Businesses

South Korea

LG Chem Ltd. is a chemical manufacturer.  The Company's products include petrochemicals, plastic resins, and engineering plastics.  LG Chem also produces industrial and electronic materials.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

LG Chem Ltd (051910 KS)

Korea Small Cap Gem #6: LG International

LG International (001120 KS) is the 6th company we introduce in our "Korea Small Cap Gem" series. LG International is one of the seven major...

Douglas Kim

Rumor: Tesla Might Buy 10% of LG Energy

Tesla Motors (TSLA US) may buy as much as 10% in LG Energy Solution, the battery business about to be spun off as an eagerly awaited IPO in...

Vicki Bryan

Asia Short Interest Weekly: SMIC, Zhaojin, Longfor, JD, Shinpoong, Alteogen, Japan Dividend Ex-Date

The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong...

Brian Freitas

LG Chem Divestiture: Shareholder Voting Race & Swing-Back Trade Opportunity

LG Chem is

Sanghyun Park

Comparison of LG Chem's Carve-Out & SK Innovation's Spin-Off of Rechargeable Battery Businesses

In this insight, we compare the spin-offs and IPOs of LG Chem Ltd (051910 KS) and SK Innovation (096770 KS)'s rechargeable battery business units....

Douglas Kim

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