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Relative Value: HoldCos and Stubs

Relative Value: HoldCos and Stubs
Weekly setup/unwind ideas among holdcos

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bearishKorea Zinc
28 Oct 2024 10:51

StubWorld: Korea Zinc's Public Tender & Expected EGM

YPP is "cheap" on a implied stub angle; however YPP is no longer in play. KZ gained a staggering 46% after the close of Choi/Bain's tender offer. I...

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09 Oct 2024 11:49

StubWorld: Both CCV (586 HK) And Anhui Conch Come Off The Boil

I'm disinclined to set up the stub here.  CCV's share price movement remains tethered to Anhui Conch. And I don't believe China's real estate...

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19 Sep 2024 11:37

StubWorld: Swire Trading "Cheap" As Cathay Squares Government Debt

Swire Pacific (19 HK) is coming up "cheap" on my monitor vs. Swire Properties (1972 HK) and Cathay Pacific (293 HK), after Cathay settles its Hong...

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bullishKorea Zinc
13 Sep 2024 11:28

StubWorld: Young Poong & MBK Jostle For Control Of Korea Zinc (010130 KS)

YP, Korea Zinc and YPP are in play. At a 85% discount to NAV, with the stake in KZ accounting for 524% of market cap, YP would be my bet,  but...

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23 Aug 2024 10:07

StubWorld: More Partial Offers In The Hanwha Group Complex

Buy Hanwha Galleria at the current price of ₩1,507/share, as I type. Separately, Hanwha Corp is still trading cheap. Expect another Kim family-led...

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