Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Bain extends the TOB for <a href="https://www.smartkarma.com/entities/mcj-co-ltd" target="_blank" data-smartkarma-citation="entities:14132:1" rel="noopener">MCJ Co Ltd (6670 JP)</a>. This still needs a bump.</li>
<li>I'd still be setting up the stub here. Or buying <a href="https://www.smartkarma.com/entities/jardine-matheson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19718:1" rel="noopener">Jardine Matheson Holdings (JM SP)</a> outright. Expect more accretion/recycling. All of which benefits Matheson. And the Keswicks.</li>
<li>Re: <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>: arbitrageurs gonna arbitrage. And shorts are going to cover. If you are in either camp, you know what to do. Or have to do.</li>
</ul>


Bain extends the TOB for MCJ Co Ltd (6670 JP). This still needs a bump.
I'd still be setting up the stub here. Or buying Jardine Matheson Holdings (JM SP) outright. Expect more accretion/recycling. All of which benefits Matheson. And the Keswicks.
Re: Toyota Industries (6201 JP): arbitrageurs gonna arbitrage. And shorts are going to cover. If you are in either camp, you know what to do. Or have to do.


Last Week In Event SPACE: MCJ, Jardine Matheson, Toyota Industries, Zijin Mining/Chifeng Jilong Gold

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>KDIC plans to sell a 33.9% stake in Seoul Guarantee Insurance (031210 KS) (SGI) in 2026 which is worth 1.3 trillion won at current prices. </li>
<li>On 24 March, KDIC announced that it plans to sell its entire 10% stake in Hanwha Life Insurance (088350 KS) in 2026 (worth 420 billion won) at current prices. </li>
<li>These potential block deal sales of Seoul Guarantee Insurance and Hanwha Life Insurance are likely to act as negative overhangs on their share prices in the coming months. </li>
</ul>


KDIC plans to sell a 33.9% stake in Seoul Guarantee Insurance (031210 KS) (SGI) in 2026 which is worth 1.3 trillion won at current prices. 
On 24 March, KDIC announced that it plans to sell its entire 10% stake in Hanwha Life Insurance (088350 KS) in 2026 (worth 420 billion won) at current prices. 
These potential block deal sales of Seoul Guarantee Insurance and Hanwha Life Insurance are likely to act as negative overhangs on their share prices in the coming months. 


KDIC Plans to Sell a 33.9% Stake in SGI Insurance and a 10% Stake in Hanwha Life Insurance in 2026

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, most of the listings this week didn't do much.</li>
<li>On the placement front, given the market volatility, there weren't any large deals. We did look at some of the upcoming lockup expiries.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, most of the listings this week didn't do much.
On the placement front, given the market volatility, there weren't any large deals. We did look at some of the upcoming lockup expiries.


Aequitas ECM Weekly (16 March 2026)- Past A/H Trends, Delton, Raajmarg, Ringpai, FS.com, Everdisplay

<ul>
<li>You wouldn't short <a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a>. Look to add on a big dip.</li>
<li>
<a href="https://www.smartkarma.com/entities/enn-energy-holdings-ltd" target="_blank" data-smartkarma-citation="entities:316:1" rel="noopener">ENN Energy</a><a href="https://www.smartkarma.com/entities/enn-energy-holdings-ltd" target="_blank" data-smartkarma-citation="entities:316:1" rel="noopener"> (2688 HK)</a> remains a challenging situation. But arguably there is upside potential here; but it's not a high conviction trade.</li>
<li>Large treasury share cancellations in vogue from the likes of <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a>, <a href="https://www.smartkarma.com/entities/sk-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:393:1" rel="noopener">SK Inc (034730 KS)</a>, among a slew others.</li>
</ul>


You wouldn't short ROHM Co Ltd (6963 JP). Look to add on a big dip.

ENN Energy (2688 HK) remains a challenging situation. But arguably there is upside potential here; but it's not a high conviction trade.
Large treasury share cancellations in vogue from the likes of Samsung Electronics (005930 KS), SK Inc (034730 KS), among a slew others.


Last Week In Event SPACE: ROHM, ENN Energy, Samsung Electronics, SK Inc, JCNC/Astra

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

Index Rebalance

<ul>
<li>With 70% of the review period complete, there could be 6 constituent changes for the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX)</a> in June.</li>
<li>The changes are driven mainly by the deletions with balancing adds to maintain the number of index constituents at 200.</li>
<li>The forecast adds have outperformed the forecast deletes but both sets of changes have underperformed the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX)</a>. </li>
</ul>


With 70% of the review period complete, there could be 6 constituent changes for the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX) in June.
The changes are driven mainly by the deletions with balancing adds to maintain the number of index constituents at 200.
The forecast adds have outperformed the forecast deletes but both sets of changes have underperformed the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX). 


KOSPI200 Index Rebalance Preview: 6 Changes a Side for June

South Korea

Seoul Guarantee Insurance Company provide insurance services. The Company offers claims adjusting, insurance plans, credit guarantee, loss prevention services, insurance exchanges, claims processing, self insurance funds, and other services. Seoul Guarantee Insurance conducts businesses in South Korea.

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Seoul Guarantee Insurance (031210 KS)

Last Week In Event SPACE: MCJ, Jardine Matheson, Toyota Industries, Zijin Mining/Chifeng Jilong Gold

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

KDIC Plans to Sell a 33.9% Stake in SGI Insurance and a 10% Stake in Hanwha Life Insurance in 2026

KDIC plans to sell 33.9% stake in Seoul Guarantee Insurance and 10% stake in Hanwha Life Insurance in 2026. These potential block deal sales could...

Douglas Kim

Aequitas ECM Weekly (16 March 2026)- Past A/H Trends, Delton, Raajmarg, Ringpai, FS.com, Everdisplay

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Last Week In Event SPACE: ROHM, ENN Energy, Samsung Electronics, SK Inc, JCNC/Astra

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

KOSPI200 Index Rebalance Preview: 6 Changes a Side for June

There could be 6 constituent changes in June with passives needing to trade between 1.7-10.2x ADV in the stocks. The forecast adds have...

Brian Freitas

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