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

Main Fact Checks on the Mix-Up Around Kum Yang’s Rights Offering Rollout

Clearing up the FSS's Authority on Capital Increases in Korea: Korea Zinc & Kum Yang

Breaking Down the Details of Korea Zinc’s Shocking Capital Raise

Korea Zinc's Buyback Results and Price Actions from Potential Sale of 9.85% Treasury to ESOP

Clepsydra Capital

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

Equity Capital Markets

<ul>
<li>This rights offering isn’t huge, but the 10M-share overhang post-offering could create solid arb opportunities as existing shareholders may hesitate to participate.</li>
<li>Ryu’s participation is uncertain after gifting shares and converting debt. His 35.6% stake may create unsubscribed shares if rights lapse.</li>
<li>With a 25% discount, this setup offers arb potential during rights trading or public subscription. Kum Yang’s liquidity needs likely invite arb players, but outright positions seem too volatile.</li>
</ul>


This rights offering isn’t huge, but the 10M-share overhang post-offering could create solid arb opportunities as existing shareholders may hesitate to participate.
Ryu’s participation is uncertain after gifting shares and converting debt. His 35.6% stake may create unsubscribed shares if rights lapse.
With a 25% discount, this setup offers arb potential during rights trading or public subscription. Kum Yang’s liquidity needs likely invite arb players, but outright positions seem too volatile.


Kum Yang's Wild Rights Offering Breakdown: A Potential Straight-Up Play for Arb Traders