In today’s briefing:
- Alpha Generation Through Share Buybacks in Korea: December 2022
- A Win for Truston Asset Mgmt: Corporate Activism Worked on Taekwang Industrial
Alpha Generation Through Share Buybacks in Korea: December 2022
- In this insight, we discuss the alpha generation through companies that have been buying back their shares in the Korean stock market in the past two months.
- In addition to these share buybacks, there has also been more recent news flow regarding the share purchases of Samsung Electronics by numerous senior directors.
- In the past month, some of the larger market cap companies including KT&G, Douzone Bizon, and Hyundai Elevator that have been buying back shares have been outperforming KOSPI.
A Win for Truston Asset Mgmt: Corporate Activism Worked on Taekwang Industrial
- This insight provides the details of how a local asset management company called Truston Asset Mgmt has been able to win a corporate activism battle against Taekwang Industrial.
- Taekwang Industrial has repeatedly been boggled down by numerous corporate governance related issues for more than a couple of decades.
- The overall result should be a modest positive sentiment on Taekwang Industrial’s shares in the near term which still trades at dirt cheap P/B multiple of 0.2x.
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