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>For Kakao Bank, the 6M IPO lockup (2.79%) will hit the market. Also, the possibility that the 4.48% stake held by Anchor/TPG will hit the market should be left open.</li>
<li>In Krafton's case, Tencent is the most notable player, owning 13.56%. It recently suggested a reduction in overseas holdings. So, some of this 13.56% stake should appear in the market.</li>
<li>The 4.84% stake held by Premier Superior is available after February 14. Samsung Electronics and Samsung SDS shares by the Samsung family are also likely to take place in February.</li>
</ul>


For Kakao Bank, the 6M IPO lockup (2.79%) will hit the market. Also, the possibility that the 4.48% stake held by Anchor/TPG will hit the market should be left open.
In Krafton's case, Tencent is the most notable player, owning 13.56%. It recently suggested a reduction in overseas holdings. So, some of this 13.56% stake should appear in the market.
The 4.84% stake held by Premier Superior is available after February 14. Samsung Electronics and Samsung SDS shares by the Samsung family are also likely to take place in February.


KOSPI Overhang Stocks: Krafton, Kakao Bank, SKIET, Samsung Elec, & Samsung SDS

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

LG Energy Solution / Equity Capital Markets

<ul>
<li>LG Energy Solution completed its two days retail subscription demand on 18-19 January. </li>
<li>LG Energy Solution raised 114 trillion won in IPO subscription margin and achieved a new record in the Korean IPO market. The retail demand ratio was 69.3 to 1. </li>
<li>In this insight, we provide a detailed retail demand analysis of the LG Energy Solution IPO, which is getting ready to start trading on 27 January.</li>
</ul>


LG Energy Solution completed its two days retail subscription demand on 18-19 January. 
LG Energy Solution raised 114 trillion won in IPO subscription margin and achieved a new record in the Korean IPO market. The retail demand ratio was 69.3 to 1. 
In this insight, we provide a detailed retail demand analysis of the LG Energy Solution IPO, which is getting ready to start trading on 27 January.


LG Energy Solution IPO: Record Retail Demand Amount

<ul>
<li>The rebalancing trade of the WISE Secondary Cell ETF will take place tomorrow, January 13 (Thursday), supposedly at the close.</li>
<li>Those names with a significant passive impact among the stocks with a daily trading amount of +US$10M are: SKIET +0.71x ADTV, POSCO Chemical +0.46x ADTV, &amp; SoulBrain: -0.69x ADTV 
</li>
<li>
The most likely new addition is Enchem (348370) with a passive impact of 0.60x ADTV. So, I expect a significant level of price action tomorrow.</li>
</ul>


The rebalancing trade of the WISE Secondary Cell ETF will take place tomorrow, January 13 (Thursday), supposedly at the close.
Those names with a significant passive impact among the stocks with a daily trading amount of +US$10M are: SKIET +0.71x ADTV, POSCO Chemical +0.46x ADTV, &amp; SoulBrain: -0.69x ADTV 


The most likely new addition is Enchem (348370) with a passive impact of 0.60x ADTV. So, I expect a significant level of price action tomorrow.


TIGER Secondary Cell ETF Rebalancing Trading on January 13

<ul>
<li>KRX calculates floats fairly aggressively even in new IPOs. This was symbolically shown in the case of Kakao Pay, which received a 35% float rate.</li>
<li>So, we need a trading setup that raises the float rate prediction range in future KOSPI 200 Fast Entry cases.</li>
<li>Considering that rebalancing trading that occurs on the implementation day is now partially digested in regular trading hours, we need to consider getting out positions before the closing auction hours.</li>
</ul>


KRX calculates floats fairly aggressively even in new IPOs. This was symbolically shown in the case of Kakao Pay, which received a 35% float rate.
So, we need a trading setup that raises the float rate prediction range in future KOSPI 200 Fast Entry cases.
Considering that rebalancing trading that occurs on the implementation day is now partially digested in regular trading hours, we need to consider getting out positions before the closing auction hours.


KOSPI 200 New Entrants: KRX-Concluded Float Rates & Rebalancing Trading Pattern Today

<ul>
<li>This is our 7th "Annual Edition of the Major Korean IPOs Pipeline Preview" at Smartkarma! </li>
<li>This insight will feature 50 of the biggest potential IPOs in Korea in 2022. </li>
<li>The IPO pipeline in 2022 is very strong, led by LG Energy Solution. However, 2022 is likely to be the peak year for IPO capital raising in Korea. </li>
</ul>


This is our 7th "Annual Edition of the Major Korean IPOs Pipeline Preview" at Smartkarma! 
This insight will feature 50 of the biggest potential IPOs in Korea in 2022. 
The IPO pipeline in 2022 is very strong, led by LG Energy Solution. However, 2022 is likely to be the peak year for IPO capital raising in Korea. 


South Korea

SK IE Technology Co., Ltd operates as a material solution provider. The Company provides information material solutions, electronic materials solutions, and other products. SK IE Technology conducts businesses across worldwide.

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SK IE Technology (361610 KS)

KOSPI Overhang Stocks: Krafton, Kakao Bank, SKIET, Samsung Elec, & Samsung SDS

This post discusses the potential overhang stocks on KOSPI in February: Kakao Bank, Krafton, SKIET, Samsung Electronics, and Samsung SDS.

Sanghyun Park

LG Energy Solution IPO: Record Retail Demand Amount

In this insight, we provide a detailed retail demand analysis of the LG Energy Solution IPO, which is getting ready to start trading on 27 January.

Douglas Kim

TIGER Secondary Cell ETF Rebalancing Trading on January 13

WISE Secondary Cell ETF rebalancing will take place tomorrow, supposedly at the close. Those worthy of our attention are SKIET +0.71x ADTV, POSCO...

Sanghyun Park

KOSPI 200 New Entrants: KRX-Concluded Float Rates & Rebalancing Trading Pattern Today

Kakao Pay eventually received a 35% float rate, meaning that KRX has included all of Alipay's non-locked stake in the float.

Sanghyun Park

2022 Major IPOs Pipeline in Korea

This is our 7th "Annual Edition of the Major Korean IPOs Pipeline Preview" at Smartkarma! This insight will feature 50 of the biggest IPOs in Korea...

Douglas Kim

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