In today’s briefing:
- Information Received Through KRX Officials Regarding Changes in the KOSPI 200 Methodology
- SK Square: M&A of 11st – Alibaba Out and Qoo10 In?
- Doosan Robotics (454910 KS): Listing & Index Inclusion Timeline
- Details About KOSPI & KOSDAQ Lock-Up Release Stocks for October
- End of Mandatory Lock-Up Periods for 45 Companies in Korea in October 2023
Information Received Through KRX Officials Regarding Changes in the KOSPI 200 Methodology
- The official announcement from KRX regarding the KOSPI 200 rebalancing rule change is expected to be released shortly after the end of October.
- The rule change will take effect beginning with this year’s December rebalancing. An official from KRX has communicated that we can confidently regard this as confirmed.
- It is essential to be aware that during this December review, there exists a significant potential for generating substantial price fluctuations within a narrow timeframe.
SK Square: M&A of 11st – Alibaba Out and Qoo10 In?
- On 27 September, Maeil Business Daily reported that SK Square signed an MOU with Qoo10 to pursue a joint management of 11st.
- It appears that Alibaba may have been reviewing this deal but it is no longer interested in pursuing 11st.
- A deal between Qoo10 and 11st could occur, but this is not certain, which means some of the cash proceeds to FI would need to be burdened by SK Square.
Doosan Robotics (454910 KS): Listing & Index Inclusion Timeline
- Doosan Robotics (454910 KS) is principally engaged in the manufacture and sale of industrial robots.
- Doosan Robotics has raised KRW 421bn (US$311m) in its IPO, valuing the company at KRW 1,685bn (US$1.245bn). Float at listing will vary from 6%-21% depending on index provider.
- Inclusion in the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX) and other global indices will take place between Feb (possibly May) and June next year.
Details About KOSPI & KOSDAQ Lock-Up Release Stocks for October
- In KOSPI, all eyes are on Ottogi Corporation, a constituent of the KOSPI 200 index. 8.38% of SO’s shares are about to be unleashed.
- In KOSDAQ, the focus is on CanariaBio and Coocon Corp, both of which are constituents of the KOSDAQ 150. They are set to release shares on October 28th.
- For Fadu, a two-month IPO lock-up is being released, accounting for 2.5% of SO.
End of Mandatory Lock-Up Periods for 45 Companies in Korea in October 2023
- We discuss the end of the mandatory lock-up periods for 45 stocks in Korea in October 2023, among which 2 are in KOSPI and 43 are in KOSDAQ.
- These 45 stocks on average could be subject to further selling pressures in October and could underperform relative to the market.
- Among these 45 stocks, top five market cap stocks include Fadu, Ottogi Corporation, CanariaBio, Top Material, and PhilEnergy.
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