In today’s briefing:
- Asia Ex-Japan: Extreme Stocks
- Block Deal Sale Of 2.3% Stake in Woori Financial and Highlights of Its Corporate Value Up Program
- KRX New Deal Index Rebalance Preview: Potential Changes as Review Period Ends Today
Asia Ex-Japan: Extreme Stocks
- We screen for stocks at the extreme ends of their positioning or momentum ranges among active Asia Ex-Japan equity funds.
- High Positioning, Negative Momentum: AIA Group Limited, Shenzhen Inovance Technology
- Low Positioning, Positive Momentum: New Oriental Education & Technology Group, Shinhan Financial Group
Block Deal Sale Of 2.3% Stake in Woori Financial and Highlights of Its Corporate Value Up Program
- On 30 July, it was reported that IMM Private Equity (PE) sold a 2.3% stake (16.78 million shares) of Woori Financial Group (WFG), which was worth 264 billion won.
- Block deal sale price was 15,737 won (0.4% higher than current price). Today’s block deal sale represents a second block deal sale of Woori Financial by IMM PE in 2024.
- Under the mid-to-long term Value Up program, Woori Financial Group aims to achieve a sustainable ROE of 10% and total shareholder returns of 50%.
KRX New Deal Index Rebalance Preview: Potential Changes as Review Period Ends Today
- The review period for the September rebalance ends today, the changes will be announced in the first week of September and implemented at the close of trading on 12 September.
- There is at least one change expected for each of the Secondary Battery, Bio, Internet, Game and BBIG indices.
- The largest flows will be in Posco Future M, Ecopro BM, SK Biopharmaceuticals, Alteogen, Celltrion, SKC Co, Kakao Corp, Douzone Bizon, Krafton and Samsung Biologics.
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