Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Mirae Asset Life Insurance Co., / Event-Driven

Mirae Asset Life Insurance Co., (085620 KS)

<ul>
<li>On the 4th March, <a href="https://www.smartkarma.com/entities/mirae-asset-life-insurance-co-ltd" target="_blank" data-smartkarma-citation="entities:24101:1" rel="noopener">Mirae Asset Life Insurance Co., (085620 KS)</a> (MAL) announced the cancellation of 62.96mn treasury shares, 23.7% of common shares and 31.8% of its outstanding shares.</li>
<li>Apart from the EPS/ROE  uplift, it also play into the court of major shareholder, Mirae Asset Group. </li>
<li>Shares closed limit up (30%) yesterday to ₩13,570; and a further 7% as I type. That's already started to bake in any potential corporate activity. </li>
</ul>


On the 4th March, Mirae Asset Life Insurance Co., (085620 KS) (MAL) announced the cancellation of 62.96mn treasury shares, 23.7% of common shares and 31.8% of its outstanding shares.
Apart from the EPS/ROE  uplift, it also play into the court of major shareholder, Mirae Asset Group. 
Shares closed limit up (30%) yesterday to ₩13,570; and a further 7% as I type. That's already started to bake in any potential corporate activity. 


Mirae Asset Life Insurance (085620 KS) Looking Toppish After Major Treasury Cancellation

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>On 4 March, Mirae Asset Life Insurance Co. (085620 KS) announced a major treasury shares cancellation of 62.96 million shares, representing 31.8% of its outstanding shares. </li>
<li>This massive treasury shares cancellation for Mirae Asset Life Insurance is likely to have a positive impact on the company due to higher ROE, EPS, and financial structure improvement. </li>
<li>This massive treasury shares cancellation is likely to lead to an eventual delisting of Mirae Asset Life Insurance by the Mirae Asset Group. </li>
</ul>


On 4 March, Mirae Asset Life Insurance Co. (085620 KS) announced a major treasury shares cancellation of 62.96 million shares, representing 31.8% of its outstanding shares. 
This massive treasury shares cancellation for Mirae Asset Life Insurance is likely to have a positive impact on the company due to higher ROE, EPS, and financial structure improvement. 
This massive treasury shares cancellation is likely to lead to an eventual delisting of Mirae Asset Life Insurance by the Mirae Asset Group. 


Mirae Asset Life Insurance: Cancellation of 31.8% of Outstanding Shares: Likely to Lead to Delisting

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 Mar 13th. The aggregated short interest was USD14.5bn.</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 Samsung Electronics, HANWHA AEROSPACE, Samsung SDI, HANWHA SYSTEMS, Hyundai Motor.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Mar 13th. The aggregated short interest was USD14.5bn.
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 Samsung Electronics, HANWHA AEROSPACE, Samsung SDI, HANWHA SYSTEMS, Hyundai Motor.


KRX Short Interest Weekly (Mar 13th): Samsung Electronics, HANWHA AEROSPACE, Samsung SDI

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Mar 6th. The aggregated short interest was USD13.9bn.</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 S-Oil, Celltrion, Alteogen, ECOPROBM, Samyang Food.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Mar 6th. The aggregated short interest was USD13.9bn.
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 S-Oil, Celltrion, Alteogen, ECOPROBM, Samyang Food.


KRX Short Interest Weekly (Mar 6th): S-Oil, Celltrion, Alteogen, ECOPROBM, Samyang Food

<ul>
<li>If you like <a href="https://www.smartkarma.com/entities/toyota-industries-corp" target="_blank" data-smartkarma-citation="entities:4500:1" rel="noopener">Toyota Industries (6201 JP)</a>'s Appraisal Rights case, buy. If a LO investor who held until now and bullish the market, sell now and replace your beta.</li>
<li>Current NAV levels for <a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus NV (PRX NA)</a> are somewhat depressed. To a lesser extent, so is the implied stub (netting off the stake in <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>).</li>
<li>China has established itself as the global EVs benchmark. But  expect increased competition, overcapacity, and in turn, profit squeeze. <a href="https://www.smartkarma.com/entities/dongfeng-motor-group-co-ltd-h" target="_blank" data-smartkarma-citation="entities:910:1" rel="noopener">Dongfeng Motor (489 HK)</a>is trading full ahead of VOYAH's spin-off.</li>
</ul>


If you like Toyota Industries (6201 JP)'s Appraisal Rights case, buy. If a LO investor who held until now and bullish the market, sell now and replace your beta.
Current NAV levels for Prosus NV (PRX NA) are somewhat depressed. To a lesser extent, so is the implied stub (netting off the stake in Tencent (700 HK)).
China has established itself as the global EVs benchmark. But  expect increased competition, overcapacity, and in turn, profit squeeze. Dongfeng Motor (489 HK)is trading full ahead of VOYAH's spin-off.


Last Week In Event SPACE: Toyota Inds., Prosus/Tencent, Dongfeng Motor, WH Group

South Korea

Mirae Asset Life Insurance Co., Ltd. provides life insurance and related products.  The Company offers a wide range of services including retirement pension, non-saving products, individual savings, bank assurance, and other financial consulting services.

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Mirae Asset Life Insurance Co., (085620 KS)

Mirae Asset Life Insurance (085620 KS) Looking Toppish After Major Treasury Cancellation

Kudo to MAL for the cancellation. Yesterday and today's move factor in this large-scale development; and then some. If in, I'd hold. I would not...

David Blennerhassett

Mirae Asset Life Insurance: Cancellation of 31.8% of Outstanding Shares: Likely to Lead to Delisting

On 4 March, Mirae Asset Life Insurance Co. (085620 KS) announced a major treasury shares cancellation of 62.96 million shares, representing 31.8%...

Douglas Kim

KRX Short Interest Weekly (Mar 13th): Samsung Electronics, HANWHA AEROSPACE, Samsung SDI

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, HANWHA AEROSPACE, Samsung...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Mar 6th): S-Oil, Celltrion, Alteogen, ECOPROBM, Samyang Food

We analyzed KRX short interest report for the past week and highlighted short interest changes in S-Oil, Celltrion, Alteogen, ECOPROBM, Samyang Food.

Ke Yan, CFA, FRM

Last Week In Event SPACE: Toyota Inds., Prosus/Tencent, Dongfeng Motor, WH Group

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

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