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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

The Korea Exchange (KRX) will announce the results of the June 2021 review of the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a>  in May with the changes becoming effective after the close of trading on 10 June.We see 14 potential changes to the index in the June review and we are less than a third of the way through the review period. The end of the short sell ban in March could bring a lot more changes to the index.The potential inclusions are <a href="https://www.smartkarma.com/entities/tesna-inc" target="_blank" data-smartkarma-citation="entities:8792:1" rel="noopener">Tesna Inc (131970 KS)</a>, <a href="https://www.smartkarma.com/entities/unison-co-ltd-south-korea" target="_blank" data-smartkarma-citation="entities:18617:1" rel="noopener">Unison Co Ltd (018000 KS)</a>, <a href="https://www.smartkarma.com/entities/tse-co-ltd" target="_blank" data-smartkarma-citation="entities:17821:1" rel="noopener">Tse Co Ltd (131290 KS)</a>, ABPro Bio (195990 KS), <a href="https://www.smartkarma.com/entities/icure-pharm-inc" target="_blank" data-smartkarma-citation="entities:27142:1" rel="noopener">Icure Pharm Inc (175250 KS)</a>, <a href="https://www.smartkarma.com/entities/sam-kang-m-t-co-ltd" target="_blank" data-smartkarma-citation="entities:7263:1" rel="noopener">Sam Kang M&amp;T (100090 KS)</a>, <a href="https://www.smartkarma.com/entities/simmtech-co-ltd" target="_blank" data-smartkarma-citation="entities:28871:1" rel="noopener">SIMMTECH Co Ltd (222800 KS)</a>, <a href="https://www.smartkarma.com/entities/binex-co-ltd" target="_blank" data-smartkarma-citation="entities:1949:1" rel="noopener">Binex Co Ltd (053030 KS)</a>, Vaxcell Bio (323990 KS), <a href="https://www.smartkarma.com/entities/kmh-co-ltd" target="_blank" data-smartkarma-citation="entities:18525:1" rel="noopener">Kmh Co Ltd (122450 KS)</a>, <a href="https://www.smartkarma.com/entities/solid-inc" target="_blank" data-smartkarma-citation="entities:14701:1" rel="noopener">Solid Inc (050890 KS)</a>, PSK Inc (319660 KS), AJu IB Investment (027360 KS) and <a href="https://www.smartkarma.com/entities/kpm-tech-co-ltd" target="_blank" data-smartkarma-citation="entities:15948:1" rel="noopener">Kpm Tech Co Ltd (042040 KS)</a>. The potential exclusions are <a href="https://www.smartkarma.com/entities/stcube" target="_blank" data-smartkarma-citation="entities:4872:1" rel="noopener">Stcube (052020 KS)</a>, <a href="https://www.smartkarma.com/entities/daea-ti-co-ltd" target="_blank" data-smartkarma-citation="entities:1473:1" rel="noopener">Daea Ti Co Ltd (045390 KS)</a>, <a href="https://www.smartkarma.com/entities/spigen-korea-co-ltd" target="_blank" data-smartkarma-citation="entities:9852:1" rel="noopener">Spigen Korea (192440 KS)</a>, <a href="https://www.smartkarma.com/entities/jusung-engineering-co-ltd" target="_blank" data-smartkarma-citation="entities:12277:1" rel="noopener">Jusung Engineering (036930 KS)</a>, <a href="https://www.smartkarma.com/entities/advanced-process-systems-corporation" target="_blank" data-smartkarma-citation="entities:24087:1" rel="noopener">Advanced Process Systems (265520 KS)</a>, <a href="https://www.smartkarma.com/entities/saraminhr-co-ltd" target="_blank" data-smartkarma-citation="entities:8494:1" rel="noopener">Saraminhr (143240 KS)</a>, <a href="https://www.smartkarma.com/entities/vt-gmp-co-ltd" target="_blank" data-smartkarma-citation="entities:8056:1" rel="noopener">Gmp Co Ltd (018290 KS)</a>, <a href="https://www.smartkarma.com/entities/iriver-ltd" target="_blank" data-smartkarma-citation="entities:13005:1" rel="noopener">Iriver Ltd (060570 KS)</a>, <a href="https://www.smartkarma.com/entities/innox-advanced-materials-co-ltd" target="_blank" data-smartkarma-citation="entities:24223:1" rel="noopener">Innox Advanced Materials Co,Ltd. (272290 KS)</a>, <a href="https://www.smartkarma.com/entities/ebest-investment-securitie" target="_blank" data-smartkarma-citation="entities:18895:1" rel="noopener">Ebest Investment &amp; Securitie (078020 KS)</a>, <a href="https://www.smartkarma.com/entities/sangsangin-co-ltd" target="_blank" data-smartkarma-citation="entities:10494:1" rel="noopener">Sangsangin Co., Ltd. (038540 KS)</a>, <a href="https://www.smartkarma.com/entities/shinheung-sec" target="_blank" data-smartkarma-citation="entities:24426:1" rel="noopener">Shin Heung Energy &amp; Electronics Co (243840 KS)</a>, <a href="https://www.smartkarma.com/entities/neopharm-co-ltd" target="_blank" data-smartkarma-citation="entities:10273:1" rel="noopener">Neopharm Co Ltd (092730 KS)</a> and <a href="https://www.smartkarma.com/entities/hlscience-co-ltd" target="_blank" data-smartkarma-citation="entities:23629:1" rel="noopener">HLSCIENCE Co. (239610 KS)</a>.One-way turnover is estimated at 5.44%. While the impact of passive funds is not high on the expected inclusions, the impact on the expected exclusions is much higher.

The Korea Exchange (KRX) will announce the results of the June 2021 review of the KOSDAQ 150 Index (KOSDQ150 INDEX)  in May with the changes becoming effective after the close of trading on 10 June.We see 14 potential changes to the index in the June review and we are less than a third of the way through the review period. The end of the short sell ban in March could bring a lot more changes to the index.The potential inclusions are Tesna Inc (131970 KS), Unison Co Ltd (018000 KS), Tse Co Ltd (131290 KS), ABPro Bio (195990 KS), Icure Pharm Inc (175250 KS), Sam Kang M&amp;T (100090 KS), SIMMTECH Co Ltd (222800 KS), Binex Co Ltd (053030 KS), Vaxcell Bio (323990 KS), Kmh Co Ltd (122450 KS), Solid Inc (050890 KS), PSK Inc (319660 KS), AJu IB Investment (027360 KS) and Kpm Tech Co Ltd (042040 KS). The potential exclusions are Stcube (052020 KS), Daea Ti Co Ltd (045390 KS), Spigen Korea (192440 KS), Jusung Engineering (036930 KS), Advanced Process Systems (265520 KS), Saraminhr (143240 KS), Gmp Co Ltd (018290 KS), Iriver Ltd (060570 KS), Innox Advanced Materials Co,Ltd. (272290 KS), Ebest Investment &amp; Securitie (078020 KS), Sangsangin Co., Ltd. (038540 KS), Shin Heung Energy &amp; Electronics Co (243840 KS), Neopharm Co Ltd (092730 KS) and HLSCIENCE Co. (239610 KS).One-way turnover is estimated at 5.44%. While the impact of passive funds is not high on the expected inclusions, the impact on the expected exclusions is much higher.

KOSDAQ150 Index Rebalance Preview: Lots of Changes Expected Already; More to Come

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Equity Capital Markets

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Corrigenda: There is an error in this Insight. Please check the discussion at the end of this Insight for the correction.
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Simmtech, a small-cap PCB maker (&lt;₩300bil), announced a 92bil rights offering yesterday. It carries a usual 20% oversubscription privilege, and Mirae will serve as a banker. There is no cancellation risk since it is a standby offer. The capital increase rate sits at 40%. 20% of the offering will go to the ESOP, so the per share allocation for the stockholders remains at 0.32. March 17 is the first round pricing, followed by March 19 for the ex-rights date. The subscription rights will get traded starting April 7. Then, the pricing deadline is April 20.
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Corrigenda: There is an error in this Insight. Please check the discussion at the end of this Insight for the correction.

Simmtech, a small-cap PCB maker (&lt;₩300bil), announced a 92bil rights offering yesterday. It carries a usual 20% oversubscription privilege, and Mirae will serve as a banker. There is no cancellation risk since it is a standby offer. The capital increase rate sits at 40%. 20% of the offering will go to the ESOP, so the per share allocation for the stockholders remains at 0.32. March 17 is the first round pricing, followed by March 19 for the ex-rights date. The subscription rights will get traded starting April 7. Then, the pricing deadline is April 20.




Simmtech Rights Offer: Small Size but Higher Price Volatility May Ensure Fun for Arb Hunters

South Korea

Simmtech Co., Ltd. manufactures Printed Circuit Board (PCB) modules.  The Company's Memory Module PCBs are used to expand the semiconductor memory and the Mobile Phone Boards are used in communication devices such as mobile phones and navigation devices.

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SIMMTECH Co Ltd (222800 KS)

KOSDAQ150 Index Rebalance Preview: Lots of Changes Expected Already; More to Come

Less than a third of the way through the review period, we see 14 potential inclusions and exclusions from the KOSDAQ150 index. The resumption of...

Brian Freitas

Simmtech Rights Offer: Small Size but Higher Price Volatility May Ensure Fun for Arb Hunters

Corrigenda: There is an error in this Insight. Please check the discussion at the end of this Insight for the correction. Simmtech, a small-cap...

Sanghyun Park

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52-week Range

Market Cap (USDm)

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