In today’s briefing:
- Another Skyworth (751 HK) Partial Buyback
- Launching KRX CSI Joint EV & Semiconductor ETFs
Another Skyworth (751 HK) Partial Buyback
- Skyworth Group Limited (751 HK) has announced another partial buyback – this time for 100mn shares (3.87% of shares out), at HK$3.80/share, a 20.25% premium to undisturbed.
- On 17 June 2020, Skyworth announced a partial buyback – 12.83% of shares out or 392.8mn shares, at HK$2.80/share, a 32.1% premium to last close.
- Upon successfully completing this partial offer, Stephen Wong & concert parties would hold >50%, prior to the excise of any outstanding options.
Launching KRX CSI Joint EV & Semiconductor ETFs
- KRX listed ETFs tracking the KRX-CSI joint indexes: KODEX Korea China EV (450180), KODEX Korea China Semiconductor (450190), TIGER Synth Korea-China EV (449680), and TIGER Synth Korea-China Semiconductor (449690)
- From a trading perspective, whether these newly introduced ETFs will replace the existing EV ETFs would be a key thinking point.
- This means a shift in the fund size of more than 5 trillion won and will cause a significant price impact in terms of flow trading.
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