In today’s briefing:
- KRX’s Final Call on Value-Up ETF Launch & December Rebalancing Preview
- New Reorganization Plan Increases Overhang Risk for Doosan Bobcat
KRX’s Final Call on Value-Up ETF Launch & December Rebalancing Preview
- Despite feedback from ETF managers, KRX is moving forward with the simultaneous listing of 12 ETFs tracking the Value-Up Index on November 4th.
- Government-Backed organizations are launching a 200 billion KRW Value-Up Fund for the Value-Up Index stocks, targeting an AUM boost to over 1 trillion KRW by year-end.
- For new additions in the December rebalancing, the safest bets are POSCO Holdings, JB Financial Group, and HK inno.N.
New Reorganization Plan Increases Overhang Risk for Doosan Bobcat
- Our overall assessment of the new reorganization plan by the Doosan Group continues to be Negative, because Doosan has not given up trying to eventually merge Bobcat and Robotics.
- Doosan Group’s new reorganization plan is the opposite of KISS strategy, involving several moving parts and complicated deal structure.
- We have also provided three main recommendations on how to raise the valuation of Doosan Bobcat without rushing to merge Bobcat and Robotics.
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