In today’s briefing:
- LG Display: Announces a Rights Offering Capital Raise of 1.36 Trillion Won
- Comprehensive List: 359 Companies on KOSPI & KOSDAQ Deferring Yearend Dividend Record Dates
- Taihan Electric Wire: Rights Offering of 50% of Outstanding Shares
LG Display: Announces a Rights Offering Capital Raise of 1.36 Trillion Won
- LG Display announced today that it will conduct a rights offering capital raise worth 1.36 trillion won.
- The rights offering capital raise involves 142 million shares, which represent 39.7% of its existing outstanding shares.
- We believe this rights offering will have a negative impact on LG Display’s share price as it will significantly dilute existing shareholders.
Comprehensive List: 359 Companies on KOSPI & KOSDAQ Deferring Yearend Dividend Record Dates
- The data is crucial for year-end dividend arbitrage. We can strategically target Single-stock futures’ spread basis widening due to information timeliness disparities, focusing on companies with high dividend yields.
- Furthermore, it offers valuable insights into assessing the December-March spread levels, potentially leading to a rollover distortion in KOSPI 200 futures’ calendar spread trading.
- Postponed yearend dividend record dates to March may clash with first-quarter dividends, offering a new trading opportunity. this unique situation could significantly impact spot and futures prices.
Taihan Electric Wire: Rights Offering of 50% of Outstanding Shares
- Last week, Taihan Electric Wire announced a rights offering of 50% of its outstanding shares. The company is expected to raise 526 billion won.
- Taihan Electric Wire is expected to use the rights offering proceeds to mostly expand its submarine cable production.
- With the share price falling 21% since the announcement of the rights offering last week, Taihan Electric Wire looks more attractive.
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