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

Clearing Up the Confusion: Ex-Rights Trading in Korean Rights Offerings

Hanwha Aero: Base Case Is the Raise Goes Through

Samsung SDI Rights Trade Period & Short Ban: Quick Clarity

Hanwha Aerospace’s Monster Raise: Checking Key Angles

Clepsydra Capital

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

Equity Capital Markets

Hanwha Aerospace / Equity Capital Markets

<ul>
<li>Hanwha shot down any merger talks between Hanwha Corp and Hanwha Energy, saying they're just going to funnel Energy’s cash straight into Hanwha Aero via a third-party allotment.</li>
<li>These confirm no price manipulation for Hanwha Corp; Hanwha Energy will inject cash into Aero at market value, likely driving bullish short-term price action for both Hanwha Corp and Aero.</li>
<li>Despite tighter arb opportunities, doubts remain whether Hanwha Aero can raise the remaining KRW 1.6 trillion given a volatile market and the tight timeline.</li>
</ul>


Hanwha shot down any merger talks between Hanwha Corp and Hanwha Energy, saying they're just going to funnel Energy’s cash straight into Hanwha Aero via a third-party allotment.
These confirm no price manipulation for Hanwha Corp; Hanwha Energy will inject cash into Aero at market value, likely driving bullish short-term price action for both Hanwha Corp and Aero.
Despite tighter arb opportunities, doubts remain whether Hanwha Aero can raise the remaining KRW 1.6 trillion given a volatile market and the tight timeline.


Key Takeaways from the Updated Filing on Hanwha Aero’s Rights Offering