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: Listing Date (Jan 27) & Passive Flow by Date (KS200, MSCI Std, & FTSE AW)

LG Chem: Passive Outflow from Local Battery Sector Indexes

LG Energy IPO – The Technological Risk from LFP

LG Energy Pre-IPO - First Look - Index Inclusion

LG-GM Battery Recall: A Lot of Confusion & Clarifications Based on the Latest WSJ Report

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.

Equity Capital Markets

LG Energy Solution / Equity Capital Markets

<ul>
<li>From a valuation point of view, the biggest issue is the size of the recall provisions.</li>
<li>There is a risk that the float-adjusted market cap threshold may not be met if there is too much voluntary lockup.</li>
<li>Many institutional investors will preemptively sell the existing constituents of the battery sector indexes and then repurchase them when the LG ES joins the indexes.</li>
</ul>


From a valuation point of view, the biggest issue is the size of the recall provisions.
There is a risk that the float-adjusted market cap threshold may not be met if there is too much voluntary lockup.
Many institutional investors will preemptively sell the existing constituents of the battery sector indexes and then repurchase them when the LG ES joins the indexes.


Contemporary Amperex Technology (CATL) (300750 CH)

LG Energy Solution IPO: Offering Details & Issues for Consideration