Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Dec 12th. The aggregated short interest was USD12.1bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in SANIL ELECTRIC, Hanwha Vision, kakaopay, Samsung F&amp;M Insurance, Alteogen.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Dec 12th. The aggregated short interest was USD12.1bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in SANIL ELECTRIC, Hanwha Vision, kakaopay, Samsung F&amp;M Insurance, Alteogen.


KRX Short Interest Weekly (Dec 12th): SANIL ELECTRIC, Hanwha Vision, Kakaopay, Samsung F&M Insurance

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>Harim Holdings (003380 KS) announced that it plans to sell its 14.744 million treasury shares through an issuance of EB worth 143 billion won. </li>
<li>The EB exchange price is 9,713 won (15.6% higher than its current price). The company plans to use the EB proceeds to pay down debt and for working capital. </li>
<li>We are NEGATIVE on Harim Holdings' EB issue using its treasury shares as the main asset to be exchanged.</li>
</ul>


Harim Holdings (003380 KS) announced that it plans to sell its 14.744 million treasury shares through an issuance of EB worth 143 billion won. 
The EB exchange price is 9,713 won (15.6% higher than its current price). The company plans to use the EB proceeds to pay down debt and for working capital. 
We are NEGATIVE on Harim Holdings' EB issue using its treasury shares as the main asset to be exchanged.


Harim Holdings - EB Issue of Its Treasury Shares for 143 Billion Won

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

<ul>
<li>The reshuffle results align with expectations, but the decision to list 11 KOSDAQ Global stocks in April is surprising. Local authorities seem to prioritize boosting the derivatives market for liquidity.</li>
<li>Ecopro Materials' SSF listing, earlier than expected, attracts attention, potentially leading to an unusual basis pattern, coinciding with a major lockup release on May 17th.</li>
<li>We should also be wary of a pattern akin to last July's in KOSDAQ stocks. Spot prices of recent SSFs showed a pronounced short-term uptrend, especially in KOSDAQ, versus KOSPI.</li>
</ul>


The reshuffle results align with expectations, but the decision to list 11 KOSDAQ Global stocks in April is surprising. Local authorities seem to prioritize boosting the derivatives market for liquidity.
Ecopro Materials' SSF listing, earlier than expected, attracts attention, potentially leading to an unusual basis pattern, coinciding with a major lockup release on May 17th.
We should also be wary of a pattern akin to last July's in KOSDAQ stocks. Spot prices of recent SSFs showed a pronounced short-term uptrend, especially in KOSDAQ, versus KOSPI.


KRX's Official SSF/SSO Reshuffle Results: Trading Considerations

<ul>
<li>We analyzed the changes in short interest of KRX Stocks as of Dec 15th which has an aggregated short interest worth USD10.4bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Hlb, Lg Electronics, Samsung C&amp;T, Samsung Electron, Posco Holdings I, Sk Hynix.</li>
</ul>


We analyzed the changes in short interest of KRX Stocks as of Dec 15th which has an aggregated short interest worth USD10.4bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Hlb, Lg Electronics, Samsung C&amp;T, Samsung Electron, Posco Holdings I, Sk Hynix.


KRX Short Interest Weekly (Dec 15th): HLB, Lg Electronics, Samsung C&T, Samsung Electron

<ul>
<li>A consortium led by the Harim Group and JKL Partners has been chosen as the preferred bidder to acquire a 57.9% stake in HMM.</li>
<li>Korea Development Bank (KDB) and the Korea Ocean Business Corporation (KOBC) are the main creditors of HMM, which is the largest shipping company in Korea.</li>
<li>Pan Ocean is expected to complete a rights offering of nearly 3 trillion won which is 136% of its current market cap. This is excessive and negative for Pan Ocean.</li>
</ul>


A consortium led by the Harim Group and JKL Partners has been chosen as the preferred bidder to acquire a 57.9% stake in HMM.
Korea Development Bank (KDB) and the Korea Ocean Business Corporation (KOBC) are the main creditors of HMM, which is the largest shipping company in Korea.
Pan Ocean is expected to complete a rights offering of nearly 3 trillion won which is 136% of its current market cap. This is excessive and negative for Pan Ocean.


Pan Ocean Considering on a Rights Offering Capital Raise of Nearly 3 Trillion Won for the HMM Deal

South Korea

Jeil Holdings Co., Ltd. operates as a holding company. The Company provides grain distribution, shipping, feed manufacturing, livestock, slaughtering, and food manufacturing services. Jeil Holdings offers its services worldwide.   

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Harim Holdings (003380 KS)

KRX Short Interest Weekly (Dec 12th): SANIL ELECTRIC, Hanwha Vision, Kakaopay, Samsung F&M Insurance

We analyzed KRX short interest report for the past week and highlighted short interest changes in SANIL ELECTRIC, Hanwha Vision, kakaopay, Samsung...

Ke Yan, CFA, FRM

Harim Holdings - EB Issue of Its Treasury Shares for 143 Billion Won

Harim Holdings (003380 KS) announced that it plans to sell its 14.744 million treasury shares through an issuance of EB worth 143 billion won.

Douglas Kim

KRX's Official SSF/SSO Reshuffle Results: Trading Considerations

As pointed out in this post, considering KOSDAQ additions as a long basket is suitable. However, stocks with high pre-reshuffle price appreciation...

Sanghyun Park

KRX Short Interest Weekly (Dec 15th): HLB, Lg Electronics, Samsung C&T, Samsung Electron

We analyzed KRX short interest report for the past week and highlight short interest changes in Hlb, Lg Electronics, Samsung C&T, Samsung Electron,...

Ke Yan, CFA, FRM

Pan Ocean Considering on a Rights Offering Capital Raise of Nearly 3 Trillion Won for the HMM Deal

In order to pay for the HMM deal, Pan Ocean is expected to complete a rights offering capital raise of nearly 3 trillion won in 1H 2024 which is...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)