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

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<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

<p>LG Chem's regulatory filing about the divestiture came out this morning.</p><p>As reported yesterday, it is a spinout (physical division) of the EV battery unit. So, the surviving entity, LG Chem, will wholly-own the spun-out entity, tentatively named LG Energy Solution.</p><p>It requires shareholder approval but doesn't grant appraisal rights.</p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="200">
<col width="200">
<col width="200">
</colgroup>
<tbody>
<tr><td colspan="4" rowspan="1" data-sheets-value='{"1":2,"2":"Overview"}'>Overview</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Name"}'>Name</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"LG Chem Ltd"}' data-sheets-formula='=googlefinance(R[1]C[0], "name")'>LG Chem Ltd</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Ticker"}'>Ticker</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"051910"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='="051910"'>051910</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Surviving"}'><strong>Surviving</strong></td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"LG Chem Ltd"}' data-sheets-formula='=googlefinance(R[1]C[0], "name")'><strong>LG Chem Ltd</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Ticker"}'>- Ticker</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"051910"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[-2]C[0]">051910</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Bourse"}'>- Bourse</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"KOSPI"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>KOSPI</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Ratio"}'>- Ratio</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"N/A"}'>N/A</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Type"}'>- Type</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"Operating company"}'>Operating company</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Business"}'>- Business</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"Petrochemical, advanced material, &amp; bio"}'>Petrochemical, advanced material, &amp; bio</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Stock split"}'>- Stock split</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":3,"3":1}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>1.0</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"New"}'><strong>New</strong></td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"LG Energy Solution"}'><strong>LG Energy Solution</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Type"}'>- Divestiture</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"Spin-out (physical division)"}'>Spin-out (physical division)</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Ticker"}'>- Ticker</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"N/A"}'>N/A</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Bourse"}'>- Bourse</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"Unlisted (wholly-owned)"}'>Unlisted (wholly-owned)</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Ratio"}'>- Ratio</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"N/A"}'>N/A</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Type"}'>- Type</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"Operating company"}'>Operating company</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Business"}'>- Business</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"Bettery solution"}'>Battery solution</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Stock split"}'>- Stock split</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":3,"3":1}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>1.0</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Stock purchase"}'>Stock purchase</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"N/A"}' data-sheets-numberformat='{"1":2,"2":"#,##0.0000000","3":1}'>N/A</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Banker"}'>Banker</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"N/A"}' data-sheets-numberformat='{"1":2,"2":"#,##0.0000000","3":1}'>N/A</td>
</tr>
<tr><td colspan="4" rowspan="1" data-sheets-value='{"1":2,"2":"Source: DART"}' data-sheets-numberformat='{"1":2,"2":"#,##0","3":1}'><em>Source: DART</em></td></tr>
</tbody>
</table><p>The company scheduled the general meeting for October 30. The effective date of the divestiture is December 1.</p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="200">
<col width="200">
<col width="200">
</colgroup>
<tbody>
<tr><td colspan="4" rowspan="1" data-sheets-value='{"1":2,"2":"Timetable"}' data-sheets-note="Sang Hyun Park: We have to buy shares until BOD+1 and hold onto them until the day immediately before the ex-rights date to be eligible to receive stock purchase rights. We then have to notify our dissenting opinion until the end of dissenting opinion notice period.">Timetable</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BOD meeting"}'>BOD meeting</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":3,"3":44091}' data-sheets-numberformat='{"1":5,"2":"[$-1009]mmmm\\ d\\,\\ yyyy","3":1}'>September 17, 2020</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Shareholder approval at EGM"}'>Shareholder approval at EGM</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":3,"3":44134}' data-sheets-numberformat='{"1":5,"2":"[$-1009]mmmm\\ d\\,\\ yyyy","3":1}'>October 30, 2020</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Trade suspension begins"}'>Trade suspension begins</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"N/A"}'>N/A</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Trade suspension ends"}'>Trade suspension ends</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":2,"2":"N/A"}'>N/A</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Effective date"}'>Effective date</td>
<td colspan="3" rowspan="1" style="text-align: right;" data-sheets-value='{"1":3,"3":44166}' data-sheets-numberformat='{"1":5,"2":"[$-1009]mmmm\\ d\\,\\ yyyy","3":1}'>December 1, 2020</td>
</tr>
<tr><td colspan="4" rowspan="1" data-sheets-value='{"1":2,"2":"Source: DART"}'><em>Source: DART</em></td></tr>
</tbody>
</table><p>The new entity, LG Energy Solution, will carry equity of ₩6tril with a D/E ratio of 72.2%.</p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="200">
<col width="200">
<col width="200">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Financials - 2Q20(₩B)"}'>Financials - 2Q20(₩B)</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Surviving"}' data-sheets-formula="=R[-58]C[-1]">Surviving</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"New"}' data-sheets-formula="=R[-51]C[-2]">New</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Note"}'>Note</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Name"}'>Name</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"LG Chem Ltd"}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[-59]C[0]">LG Chem Ltd</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"LG Energy Solution"}' data-sheets-formula="=R[-52]C[-1]"><strong>LG Energy Solution</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Tentative"}'>Tentative</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Split type"}'>Split type</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>-</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Spin-out (physical division)"}' data-sheets-formula="=R[-52]C[-1]"><strong>Spin-out</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Wholly-owned subsidiary"}'>Wholly-owned subsidiary</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Total assets"}'>Total assets</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":24727.505710317}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>24,727.5</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":10255.222921326}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'><strong>10,255.2</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"As of June 30, 2020"}'>As of June 30, 2020</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Total liabilities"}'>Total liabilities</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":7912.704159275}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>7,912.7</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":4297.06857645}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'><strong>4,297.1</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"As of June 30, 2020"}'>As of June 30, 2020</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Total equity"}'>Total equity</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":16814.801551042}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>16,814.8</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":5958.154344876}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'><strong>5,958.2</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"As of June 30, 2020"}'>As of June 30, 2020</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Capital"}'>- Capital</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":391.405715}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>391.4</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":100}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'><strong>100.0</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"As of June 30, 2020"}'>As of June 30, 2020</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Split ratio"}'>Split ratio</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"N/A"}' data-sheets-numberformat='{"1":3,"2":"0.00000%"}' data-sheets-formula="=R[-62]C[0]">N/A</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"N/A"}' data-sheets-formula="=R[-54]C[-1]"><strong>N/A</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Physical division"}'>Physical division</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"FY19 de-consolidated sales"}'>FY19 de-consolidated sales</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":15617.248169816}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>15,617.2</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":6695.312485423}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'><strong>6,695.3</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"FY2019"}'>FY2019</td>
</tr>
<tr><td colspan="4" rowspan="1" data-sheets-value='{"1":2,"2":"Source: DART"}' data-sheets-numberformat='{"1":2,"2":"#,##0","3":1}'><em>Source: DART</em></td></tr>
</tbody>
</table><table class="table table-striped">
<colgroup>
<col width="300">
<col width="200">
<col width="200">
<col width="200">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Shareholding"}'>Shareholding</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Common"}'>Common</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"1P"}'>1P</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Total"}'>Total</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"LG Corp"}' data-sheets-formula='=googlefinance(R[0]C[6], "name")'>LG Corp</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.33338192217249396}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">33.34%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">0.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.3006370384755368}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R[0]C[1]+R[0]C[2])/(R38C5+R38C6)">30.06%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"LG Yeonam Cultural Foundation"}'>LG Yeonam Cultural Foundation</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0002938845647891302}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">0.03%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">0.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0002650191247207517}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R[0]C[1]+R[0]C[2])/(R38C5+R38C6)">0.03%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Special affiliated persons"}'>Special affiliated persons</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.000008542002919495108}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">0.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.000026011861408802414}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">0.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.000010257898252712022}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R[0]C[1]+R[0]C[2])/(R38C5+R38C6)">0.00%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Major shareholder"}'>- Major shareholder</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.3336843487402026}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">33.37%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.000026011861408802414}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">0.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.3009123154985103}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R[0]C[1]+R[0]C[2])/(R38C5+R38C6)">30.09%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Korea NPS"}'>Korea NPS</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.10907588093513201}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">10.91%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">0.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.09836241149417044}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R[0]C[1]+R[0]C[2])/(R38C5+R38C6)">9.84%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Treasury shares"}'>Treasury shares</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.023407878670353807}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">2.34%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0021286806783893455}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">0.21%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0213178287394194}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R[0]C[1]+R[0]C[2])/(R38C5+R38C6)">2.13%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Total"}'>Total</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">100.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[0]C[3]/R38C[3]">100.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R[0]C[1]+R[0]C[2])/(R38C5+R38C6)">100.00%</td>
</tr>
<tr><td colspan="4" rowspan="1" data-sheets-value='{"1":2,"2":"Source: FnGuide"}'><em>Source: FnGuide</em></td></tr>
</tbody>
</table>

LG Chem's regulatory filing about the divestiture came out this morning.As reported yesterday, it is a spinout (physical division) of the EV battery unit. So, the surviving entity, LG Chem, will wholly-own the spun-out entity, tentatively named LG Energy Solution.It requires shareholder approval but doesn't grant appraisal rights.







Overview

Name
LG Chem Ltd


Ticker
051910


Surviving
LG Chem Ltd


- Ticker
051910


- Bourse
KOSPI


- Ratio
N/A


- Type
Operating company


- Business
Petrochemical, advanced material, &amp; bio


- Stock split
1.0


New
LG Energy Solution


- Divestiture
Spin-out (physical division)


- Ticker
N/A


- Bourse
Unlisted (wholly-owned)


- Ratio
N/A


- Type
Operating company


- Business
Battery solution


- Stock split
1.0


Stock purchase
N/A


Banker
N/A

Source: DART

The company scheduled the general meeting for October 30. The effective date of the divestiture is December 1.







Timetable

BOD meeting
September 17, 2020


Shareholder approval at EGM
October 30, 2020


Trade suspension begins
N/A


Trade suspension ends
N/A


Effective date
December 1, 2020

Source: DART

The new entity, LG Energy Solution, will carry equity of ₩6tril with a D/E ratio of 72.2%.








Financials - 2Q20(₩B)
Surviving
New
Note


Name
LG Chem Ltd
LG Energy Solution
Tentative


Split type
-
Spin-out
Wholly-owned subsidiary


Total assets
24,727.5
10,255.2
As of June 30, 2020


Total liabilities
7,912.7
4,297.1
As of June 30, 2020


Total equity
16,814.8
5,958.2
As of June 30, 2020


- Capital
391.4
100.0
As of June 30, 2020


Split ratio
N/A
N/A
Physical division


FY19 de-consolidated sales
15,617.2
6,695.3
FY2019

Source: DART










Shareholding
Common
1P
Total


LG Corp
33.34%
0.00%
30.06%


LG Yeonam Cultural Foundation
0.03%
0.00%
0.03%


Special affiliated persons
0.00%
0.00%
0.00%


- Major shareholder
33.37%
0.00%
30.09%


Korea NPS
10.91%
0.00%
9.84%


Treasury shares
2.34%
0.21%
2.13%


Total
100.00%
100.00%
100.00%

Source: FnGuide



LG Chem: Spinout, Likely ECO Later, & 1P Diversion, Caused by Irrational Sentiment

Cross Asset Strategy

<div class="content-highlight"><p><strong>It has been reported in the past few days that <a href="http://www.koreaninvestors.com/?p=12175" target="_blank" rel="noopener">NPS</a> is likely to put a greater emphasis on ESG (environmental, social, &amp; governance) based investing for Korean stocks and bonds starting 2021. </strong>NPS has currently given a mandate to a company to help NPS to apply ESG based investment system. The ESG evaluations are expected to aid NPS to actively exercise shareholder rights and also to carry out negative screening of stocks.</p></div><h3>Implications of NPS Incorporating More ESG Criteria on Domestic Investments (Bonds &amp; Stocks)</h3><ul>
<li>Negative Impact on VICE industries </li>
<li>Positive Impact on Renewable Energy Industries</li>
<li>Negative Impact on Coal &amp; Oil Industries</li>
<li>Greater Representation of Women in Senior Management Team/BOD</li>
</ul>

It has been reported in the past few days that NPS is likely to put a greater emphasis on ESG (environmental, social, &amp; governance) based investing for Korean stocks and bonds starting 2021. NPS has currently given a mandate to a company to help NPS to apply ESG based investment system. The ESG evaluations are expected to aid NPS to actively exercise shareholder rights and also to carry out negative screening of stocks.Implications of NPS Incorporating More ESG Criteria on Domestic Investments (Bonds &amp; Stocks)
Negative Impact on VICE industries 
Positive Impact on Renewable Energy Industries
Negative Impact on Coal &amp; Oil Industries
Greater Representation of Women in Senior Management Team/BOD


NPS - Greater Emphasis of ESG Based Investing for Korean Stocks & Bonds Starting 2021

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)

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

LG Chem: Spinout, Likely ECO Later, & 1P Diversion, Caused by Irrational Sentiment

???

Sanghyun Park

NPS - Greater Emphasis of ESG Based Investing for Korean Stocks & Bonds Starting 2021

It has been reported in the past few days that NPS is likely to put a greater emphasis on ESG (environmental, social, & governance) based...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)