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

LG Energy Solution: Another MSCI Upweight Event Coming in May

KOSPI 200 Passive Flow Breakdown, Feat. NPS Size & Trade Window Pattern

Assessing LG Energy Solution's Flow Imbalance Situation

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 ESOP's 3.5% stake will be released on January 27. Considering the extremely tight flow situation, this is by no means small. 3.48% is 20 times the recent ADTV.</li>
<li>NPS will likely move toward a minimum stake of 6% again for LG Energy, irrespective of LG Energy's current valuation, despite its recent selling.</li>
<li>We should consider the possibility that NPS will contrarily utilize this ESOP lockup release, and we should also design a contrarian position for this lockup release.</li>
</ul>


The ESOP's 3.5% stake will be released on January 27. Considering the extremely tight flow situation, this is by no means small. 3.48% is 20 times the recent ADTV.
NPS will likely move toward a minimum stake of 6% again for LG Energy, irrespective of LG Energy's current valuation, despite its recent selling.
We should consider the possibility that NPS will contrarily utilize this ESOP lockup release, and we should also design a contrarian position for this lockup release.


LG Energy: ESOP Lockup Release (3.5% of SO) & Contrarian Approach Targeting NPS