In today’s briefing:
- WisdomTree Emerging Markets High Dividend Index Rebalance: US$2.5bn Round-Trip Trade
- Korea Zinc: Breaking Down the Cancel Risk with Specific Legal Provisions for Both Camps
WisdomTree Emerging Markets High Dividend Index Rebalance: US$2.5bn Round-Trip Trade
- The WisdomTree Emerging Markets High Dividend Index is a fundamentally weighted index that measures the performance of high dividend yield stocks within emerging markets.
- The changes at the October rebalance were announced after market close on 4 October with implementation scheduled at the close on 16 October.
- There are 241 adds and 208 deletes for the index with an estimated round-trip trade of US$2.5bn. There are many stocks with over 2x ADV to trade.
Korea Zinc: Breaking Down the Cancel Risk with Specific Legal Provisions for Both Camps
- MBK is unlikely to lower the tender price or cancel the offer due to legal constraints and potential regulatory hurdles, along with compensating investors.
- Just keep in mind that if you want to participate in MBK’s Korea Zinc offer, you’ll need to submit your bid to secure that compensation safety net.
- We can’t rule out the second injunction request being accepted on the 21st, leaving Choi’s camp in a tough position with tender offer cancellation risks compared to MBK.
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