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

T'Way Air: Increasing Possibility of an M&A Fight Between Yearimdang and Daemyung Sono Group

Clepsydra Capital

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

Event-Driven

<ul>
<li>It’s unclear if this will turn into a tender offer battle like Korea Zinc, and we need to assess both sides’ financial strength carefully.</li>
<li>Today’s reports suggest Sono has more financial flexibility than T'way Holdings, but we should be cautious. T'way Air might also consider buying back shares with borrowed funds.</li>
<li>T'way Air has fewer institutional investors and more available float than Korea Zinc, suggesting significant price swings and an attractive trading setup, as seen in today’s volume spike.</li>
</ul>


It’s unclear if this will turn into a tender offer battle like Korea Zinc, and we need to assess both sides’ financial strength carefully.
Today’s reports suggest Sono has more financial flexibility than T'way Holdings, but we should be cautious. T'way Air might also consider buying back shares with borrowed funds.
T'way Air has fewer institutional investors and more available float than Korea Zinc, suggesting significant price swings and an attractive trading setup, as seen in today’s volume spike.


Digging into Today’s Potential T'way Air Tender Offer Saga