Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

Hanwha Ocean's Massive Issuance: Clearly, This Is Test-The-Water and How to Approach It

Hanwha Ocean: Big Shares Dilution from Rights Offering of 2 Trillion Won

Trading Angles Using Severely Backwardated Hanwha Ocean's SSFs Ahead of the Rights Trading

Compact Summary of Hanwha Group Reorganization

A Detailed Summary of Hanwha Solutions Demerger & Tender Offer

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>The acquisition will be carried out through a third-party allocation rights offering. DSME will issue 104M new shares, solely allocated to Hanwha's six affiliates, which will own a combined 49.3%</li>
<li>This DSME acquisition will likely raise Hanwha's holding ratio, potentially to more than 50%. What preemptive measures Hanwha will take will likely become a noteworthy subject from an investment perspective.</li>
<li>Hanwha Aerospace and Hanwha Systems will likely proceed with a capital increase. As their current cash capacity is quite limited, liquidity concerns will likely be raised in the market.</li>
</ul>


The acquisition will be carried out through a third-party allocation rights offering. DSME will issue 104M new shares, solely allocated to Hanwha's six affiliates, which will own a combined 49.3%
This DSME acquisition will likely raise Hanwha's holding ratio, potentially to more than 50%. What preemptive measures Hanwha will take will likely become a noteworthy subject from an investment perspective.
Hanwha Aerospace and Hanwha Systems will likely proceed with a capital increase. As their current cash capacity is quite limited, liquidity concerns will likely be raised in the market.


A Detailed Summary of Hanwha's DSME Acquisition Deal