In today’s briefing:
- Tracking Dividend Record Dates: Hyundai Motor Leads, Best Monitoring Channel Revealed
- Foosung: Announces a Rights Offering of 101 Billion Won
Tracking Dividend Record Dates: Hyundai Motor Leads, Best Monitoring Channel Revealed
- Yesterday, five companies disclosed dividend record dates and amounts. Hyundai Motor set record dates before March futures expired. Hyundai Motor offers single stock futures, presenting arbitrage opportunities.
- Daily updates and monitoring of dividend arbitrage spread are crucial. Despite limited English support, KLCA webpage proves effective with prompt updates, simplifying the process.
- KLCA webpage offers real-time updates and intuitive layout, ideal for dividend arbitrage trading preparation in the Korean market.
Foosung: Announces a Rights Offering of 101 Billion Won
- Foosung announced a rights offering worth 101 billion won. The estimated rights offering price is 7,850 won which is 22% discount to closing price on 25 January (10,070 won).
- The rights offering will involve 12.9 million shares (13.7% of outstanding shares). Of the 101 billion won in rights offering, the company will use 88.3 billion won in facility investments.
- We are negative on Foosung overall and on the rights offering. Despite the company’s turnaround this year, there are concerns about share dilution plus valuations are not particularly attractive.
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