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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>The Appraisal rights exercise period ends on 13 November. If the NPS and other large shareholders exercise their rights in <a href="https://www.smartkarma.com/entities/celltrion-inc" target="_blank" data-smartkarma-citation="entities:991:1" rel="noopener">Celltrion Inc (068270 KS)</a>, the merger could be in trouble.</li>
<li>Both stocks are trading close to their exercise price and could be supported due to the companies buying back their shares.</li>
<li>There will be passive flows from local and global trackers and there does not appear to be pre-positioning. That is likely due to the risk of potential merger cancellation.</li>
</ul>


The Appraisal rights exercise period ends on 13 November. If the NPS and other large shareholders exercise their rights in Celltrion Inc (068270 KS), the merger could be in trouble.
Both stocks are trading close to their exercise price and could be supported due to the companies buying back their shares.
There will be passive flows from local and global trackers and there does not appear to be pre-positioning. That is likely due to the risk of potential merger cancellation.


Celltrion Merger: Appraisal Rights & Passive Flows

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ray-co" target="_blank" data-smartkarma-citation="entities:29689:1" rel="noopener">Ray Co (228670 KS)</a> is the 17th company in our Korea Small Cap Gems series. </li>
<li>Ray Co is a leading Korean producer of digital X-ray imaging equipment for dental use. The company has attractive sales and profit growth combined with reasonable valuation multiples. </li>
<li>Ray Co has been noted as one of the companies that have been invested by Scion Asset Management. </li>
</ul>



Ray Co (228670 KS) is the 17th company in our Korea Small Cap Gems series. 
Ray Co is a leading Korean producer of digital X-ray imaging equipment for dental use. The company has attractive sales and profit growth combined with reasonable valuation multiples. 
Ray Co has been noted as one of the companies that have been invested by Scion Asset Management. 


South Korea

Ray Co., Ltd. of KR manufactures and distributes radiation equipment. The Company produces dental and medical cbct rayscan, ip scanner rioscan, intraoral sensor riosensor, and other related products. Ray markets its products worldwide.

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Ray /KR (228670 KS)

Celltrion Merger: Appraisal Rights & Passive Flows

The appraisal rights exercise period ends 13 Nov. Both companies are buying back shares. The last traded price is close to the appraisal price....

Brian Freitas

Korea Small Cap Gem #17: Ray Co

Ray Co is a leading Korean producer of digital X-ray imaging equipment for dental use. The company has attractive sales and profit growth combined...

Douglas Kim

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