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

Clepsydra Capital

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

Event-Driven

<ul>
<li>The 5% voting gap between Choi and MBK leaves NPS and sideline minority players as key swing factors, with NPS’s stake potentially closing the gap for Choi.</li>
<li>If NPS sold half its stake in the tenders, it's down to 4%, not enough to close the gap, likely giving MBK the win and triggering a post-meeting price drop.</li>
<li>The key to our outright short is NPS’s January 10 disclosure, with market chatter suggesting NPS has likely sold about half its holdings in the two tenders.</li>
</ul>


The 5% voting gap between Choi and MBK leaves NPS and sideline minority players as key swing factors, with NPS’s stake potentially closing the gap for Choi.
If NPS sold half its stake in the tenders, it's down to 4%, not enough to close the gap, likely giving MBK the win and triggering a post-meeting price drop.
The key to our outright short is NPS’s January 10 disclosure, with market chatter suggesting NPS has likely sold about half its holdings in the two tenders.


Figuring Out the Right Entry Point to Go Outright Short on Korea Zinc