Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>In this insight, we discuss a pair trade between LG Chem Ltd (051910 KS) (common) and LG Chem (051915 KS) (preferred). </li>
<li>The price ratio (LG Chem common/preferred) is now at 2.16x, which is more than 2 STD (standard deviations). Our trading strategy involves revert to the mean. </li>
<li>One of the key reasons why LG Chem (preferred)'s share price has fared much worse YTD than LG Chem (common) is due to much larger selling by the foreign investors. </li>
</ul>


In this insight, we discuss a pair trade between LG Chem Ltd (051910 KS) (common) and LG Chem (051915 KS) (preferred). 
The price ratio (LG Chem common/preferred) is now at 2.16x, which is more than 2 STD (standard deviations). Our trading strategy involves revert to the mean. 
One of the key reasons why LG Chem (preferred)'s share price has fared much worse YTD than LG Chem (common) is due to much larger selling by the foreign investors. 


A Pair Trade Between LG Chem (Common) And LG Chem (Preferred)

<ul>
<li>In this insight, we discuss numerous gap trade opportunities involving Korean preferred and common shares in 2Q 2025.</li>
<li>The following five pairs (between common and prefs) have experienced more than 10% difference in their share prices in the past six months. </li>
<li>These five pairs (LG Chem, Amorepacific Corp, Amorepacific Group, CJ Cheiljedang, and Korea Investment Holdings) are more likely to revert to closing their gaps in the coming weeks. </li>
</ul>


In this insight, we discuss numerous gap trade opportunities involving Korean preferred and common shares in 2Q 2025.
The following five pairs (between common and prefs) have experienced more than 10% difference in their share prices in the past six months. 
These five pairs (LG Chem, Amorepacific Corp, Amorepacific Group, CJ Cheiljedang, and Korea Investment Holdings) are more likely to revert to closing their gaps in the coming weeks. 


Gap Trade Opportunities in Korean Prefs Vs Common Share Pairs in 2Q 2025

Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Equity Capital Markets

<ul>
<li>With this new rule, the FSS is flagging shaky rights offerings early, signaling a likely correction request—and often, the first step toward the deal getting axed.</li>
<li>Spot the red flags early and use the window before the FSS drops the hammer to position for a reversal play.</li>
<li>The FSS’s early notice makes a reversal likely as traders bet on the deal getting nuked after the initial disclosure drop.</li>
</ul>


With this new rule, the FSS is flagging shaky rights offerings early, signaling a likely correction request—and often, the first step toward the deal getting axed.
Spot the red flags early and use the window before the FSS drops the hammer to position for a reversal play.
The FSS’s early notice makes a reversal likely as traders bet on the deal getting nuked after the initial disclosure drop.


Korea FSS Shakes Up Rights Offerings – Special Review Rule Now Live

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Apr 18th which has an aggregated holding worth USD474.6bn.</li>
<li>We estimate that foreign flows to be outflows of USD41mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Hdhms, Celltrion, SK Hynix, Samsung Electronics, Hyundai Motor.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Apr 18th which has an aggregated holding worth USD474.6bn.
We estimate that foreign flows to be outflows of USD41mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Hdhms, Celltrion, SK Hynix, Samsung Electronics, Hyundai Motor.


KRX Foreign Holding Weekly (Apr 18th): Hdhms, Celltrion, SK Hynix, Samsung Electronics

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

<ul><li>LGES takes over GM battery plant in response to Trump's win, expanding its presence in the US market.</li><li>India establishes a sovereign AI ecosystem, driving ambitions forward for technological advancements in the country.</li><li>Samsung's One UI 7 Beta introduces AI enhancements and improved security features in anticipation of the Galaxy S25 release.</li></ul>

LGES takes over GM battery plant in response to Trump's win, expanding its presence in the US market.India establishes a sovereign AI ecosystem, driving ambitions forward for technological advancements in the country.Samsung's One UI 7 Beta introduces AI enhancements and improved security features in anticipation of the Galaxy S25 release.

Tech Supply Chain Tracker (10-Dec-2024): LGES buys GM's plant post-Trump win.

South Korea

LG Chem Ltd. is a chemical manufacturer. The Company's products include petrochemicals, plastic resins, and engineering plastics. LG Chem also produces industrial and electronic materials.

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LG Chem (051915 KS)

A Pair Trade Between LG Chem (Common) And LG Chem (Preferred)

In this insight, we discuss a pair trade between LG Chem (051910 KS) (common) and LG Chem (051915 KS) (preferred). We recommend going long on LG...

Douglas Kim

Korea FSS Shakes Up Rights Offerings – Special Review Rule Now Live

Korea FSS introduces a new procedural rule with immediate effect, offering a fresh trading angle: special review for rights offerings.

Sanghyun Park

KRX Foreign Holding Weekly (Apr 18th): Hdhms, Celltrion, SK Hynix, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Hdhms, Celltrion, SK Hynix, Samsung Electronics,...

Ke Yan, CFA, FRM

Tech Supply Chain Tracker (10-Dec-2024): LGES buys GM's plant post-Trump win.

LGES takes over GM battery plant, India advances AI ambitions, Samsung's One UI 7 Beta improves security, LG Electronics files for IPO in India,...

Tech Supply Chain Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A Pair Trade Between LG Chem (Common) And LG Chem (Preferred)

In this insight, we discuss a pair trade between LG Chem (051910 KS) (common) and LG Chem (051915 KS) (preferred). We recommend going long on LG...

Douglas Kim

Gap Trade Opportunities in Korean Prefs Vs Common Share Pairs in 2Q 2025

In this insight, we discuss numerous gap trade opportunities involving Korean preferred and common shares in 2Q 2025. LG Chem (common vs preferred)...

Douglas Kim

Korea FSS Shakes Up Rights Offerings – Special Review Rule Now Live

Korea FSS introduces a new procedural rule with immediate effect, offering a fresh trading angle: special review for rights offerings.

Sanghyun Park

KRX Foreign Holding Weekly (Apr 18th): Hdhms, Celltrion, SK Hynix, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Hdhms, Celltrion, SK Hynix, Samsung Electronics,...

Ke Yan, CFA, FRM

Tech Supply Chain Tracker (10-Dec-2024): LGES buys GM's plant post-Trump win.

LGES takes over GM battery plant, India advances AI ambitions, Samsung's One UI 7 Beta improves security, LG Electronics files for IPO in India,...

Tech Supply Chain Tracker