Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>On 21 November, Nice Holdings (034310 KS) announced new shareholder return policies that included material increase in dividends and share cancellations.</li>
<li>First, Nice Holdings has decided to raise dividends by more than 10% every year for the next three years. Nice Holdings paid dividend per share of 410 won last year. </li>
<li>Nice Holdings also announced that it will cancel more than 1% of total outstanding shares every year for the next three years. </li>
</ul>


On 21 November, Nice Holdings (034310 KS) announced new shareholder return policies that included material increase in dividends and share cancellations.
First, Nice Holdings has decided to raise dividends by more than 10% every year for the next three years. Nice Holdings paid dividend per share of 410 won last year. 
Nice Holdings also announced that it will cancel more than 1% of total outstanding shares every year for the next three years. 


Nice Holdings: Material Increase in Dividends and Share Cancellations

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>The review period for the September rebalance of the KOSPI Size Indices started 1 June and will end 31 August. The changes will be implemented at the close 7 September.</li>
<li>We see 7 migrations from MidCap to LargeCap, 6 migrations from LargeCap to MidCap, 7 new adds to MidCap, and 17 migrations from SmallCap to MidCap.</li>
<li>Historically, stocks migrating from SmallCap to MidCap have outperformed stocks that are migrating between other categories.</li>
</ul>


The review period for the September rebalance of the KOSPI Size Indices started 1 June and will end 31 August. The changes will be implemented at the close 7 September.
We see 7 migrations from MidCap to LargeCap, 6 migrations from LargeCap to MidCap, 7 new adds to MidCap, and 17 migrations from SmallCap to MidCap.
Historically, stocks migrating from SmallCap to MidCap have outperformed stocks that are migrating between other categories.


KOSPI Size Indices - Plenty of Migrations to Attract Active Flows

Index Rebalance

<ul>
<li>The review period for the September rebalance of the KOSPI Size Indices started 1 June and will end 31 August. The changes will be implemented at the close 7 September.</li>
<li>We see 8 migrations from MidCap to LargeCap, 7 migrations from LargeCap to MidCap, 6 new adds to MidCap, and 16 migrations from SmallCap to MidCap.</li>
<li>Historically, stocks migrating from SmallCap to MidCap have outperformed stocks that are migrating between other categories.</li>
</ul>


The review period for the September rebalance of the KOSPI Size Indices started 1 June and will end 31 August. The changes will be implemented at the close 7 September.
We see 8 migrations from MidCap to LargeCap, 7 migrations from LargeCap to MidCap, 6 new adds to MidCap, and 16 migrations from SmallCap to MidCap.
Historically, stocks migrating from SmallCap to MidCap have outperformed stocks that are migrating between other categories.


KOSPI Size Indices - Plenty of Overlap With Other Index Flows

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>I filtered 42 buybacks currently in progress at KOSPI/KOSDAQ, which have a market cap of over 200 billion won.</li>
<li>Of these, 15 buybacks have their buyback volume exceeding 1% compared to SO, and buyback completion % is currently below 50% at present.</li>
<li>Among these, we should pay attention to those whose buybacks are being completed relatively early. These names also show a good correlation with stock prices.</li>
</ul>


I filtered 42 buybacks currently in progress at KOSPI/KOSDAQ, which have a market cap of over 200 billion won.
Of these, 15 buybacks have their buyback volume exceeding 1% compared to SO, and buyback completion % is currently below 50% at present.
Among these, we should pay attention to those whose buybacks are being completed relatively early. These names also show a good correlation with stock prices.


Buybacks in Progress at KOSPI/KOSDAQ: Stocks to Watch From a Trading Perspective

South Korea

NICE Holdings Company Limited (NICE) provides credit rating services such as bond, commercial paper, and structured finance ratings and credit information for individuals and corporations. The Company also provides bad debts collection and research services.

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Nice Holdings (034310 KS)

KOSPI Size Indices - Plenty of Migrations to Attract Active Flows

We currently forecast 53 migrations for the KOSPI Size Indices. There are stocks that are potential KOSPI200 adds in December and others that will...

Brian Freitas

KOSPI Size Indices - Plenty of Overlap With Other Index Flows

We currently forecast 52 changes for the KOSPI Size Indices. While there are few passive assets tracking these indices, they are used by active...

Brian Freitas

Buybacks in Progress at KOSPI/KOSDAQ: Stocks to Watch From a Trading Perspective

This post screens those buybacks in progress at KOSPI/KOSDAQ, which are worth noting from a short-term trading perspective.

Sanghyun Park

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Nice Holdings: Material Increase in Dividends and Share Cancellations

​Nice Holdings (034310 KS) plans to increase dividends by over 10% annually for the next three years and cancel more than 1% of outstanding shares...

Douglas Kim

KOSPI Size Indices - Plenty of Migrations to Attract Active Flows

We currently forecast 53 migrations for the KOSPI Size Indices. There are stocks that are potential KOSPI200 adds in December and others that will...

Brian Freitas

KOSPI Size Indices - Plenty of Overlap With Other Index Flows

We currently forecast 52 changes for the KOSPI Size Indices. While there are few passive assets tracking these indices, they are used by active...

Brian Freitas

Buybacks in Progress at KOSPI/KOSDAQ: Stocks to Watch From a Trading Perspective

This post screens those buybacks in progress at KOSPI/KOSDAQ, which are worth noting from a short-term trading perspective.

Sanghyun Park

Nice Holdings (034310 KS) plans to increase dividends by over 10% annually for the next three years and cancel more than 1% of outstanding shares...