Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>According to Maekyung Business Daily, SK Innovation maybe planning to sell its controlling interest in SK IE Technology (SK IET) which produces separators for rechargeable batteries.</li>
<li>SK On is experiencing financial difficulties due to the sluggish demand for EVs. SK Innovation's 61.2% stake in SK IET is worth 2.5 trillion won. </li>
<li>SK IE Technology had an earnings shock in 1Q 2024. It had sales of 46.2 billion won (67.8% lower than consensus) and operating loss of 67.4 billion won 1Q 2024.</li>
</ul>


According to Maekyung Business Daily, SK Innovation maybe planning to sell its controlling interest in SK IE Technology (SK IET) which produces separators for rechargeable batteries.
SK On is experiencing financial difficulties due to the sluggish demand for EVs. SK Innovation's 61.2% stake in SK IET is worth 2.5 trillion won. 
SK IE Technology had an earnings shock in 1Q 2024. It had sales of 46.2 billion won (67.8% lower than consensus) and operating loss of 67.4 billion won 1Q 2024.


SK Group's Restructuring Plans for SK IET and an Earnings Shock for SK IET in 1Q 2024

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>Anticipation grows for increased block deals before July 24th's pre-announcement rule takes effect, emerging as a key investment focus in the local market.</li>
<li>The local market expects heightened activity in the three weeks post-May 15th, following first-quarter earnings announcements, a strategic move to mitigate insider trading controversies.</li>
<li>Local traders eagerly await which companies will capitalize on the post-first-quarter earnings window, with a highly anticipated block deal involving SK Innovation selling a portion of its stake in SKIET.</li>
</ul>


Anticipation grows for increased block deals before July 24th's pre-announcement rule takes effect, emerging as a key investment focus in the local market.
The local market expects heightened activity in the three weeks post-May 15th, following first-quarter earnings announcements, a strategic move to mitigate insider trading controversies.
Local traders eagerly await which companies will capitalize on the post-first-quarter earnings window, with a highly anticipated block deal involving SK Innovation selling a portion of its stake in SKIET.


Key Timing Window for a Surge in Block Deals Before Pre-Disclosure Takes Effect in July

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 May 3rd which has an aggregated short interest worth USD6.4bn.</li>
<li>We tabulate league table 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, Sk Hynix, Hyundai Motor, Kb Financial.</li>
</ul>


We analyzed the changes in short interest of KRX Stocks as of May 3rd which has an aggregated short interest worth USD6.4bn.
We tabulate league table 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, Sk Hynix, Hyundai Motor, Kb Financial.


KRX Short Interest Weekly (May 3rd): Samsung Electronics, Sk Hynix, Hyundai Motor, Kb Financial

<ul>
<li>On 5 February, SK Innovation (096770 KS) announced a large-scale shares cancellation of 4.92 million shares, representing 4.9% of outstanding shares. </li>
<li>This is the first ever large scale shares cancellation for SK Innovation since it was first established in 2011.</li>
<li>All in all, despite the company's disappointing results in 2023, the large scale share cancellation should help to support SK Innovation's share price in the coming weeks. </li>
</ul>


On 5 February, SK Innovation (096770 KS) announced a large-scale shares cancellation of 4.92 million shares, representing 4.9% of outstanding shares. 
This is the first ever large scale shares cancellation for SK Innovation since it was first established in 2011.
All in all, despite the company's disappointing results in 2023, the large scale share cancellation should help to support SK Innovation's share price in the coming weeks. 


SK Innovation: Announces Share Cancellation of Nearly 4.92 Million Shares

<ul>
<li>We analyzed the changes in short interest of KRX Stocks as of Dec 8th which has an aggregated short interest worth USD10.8bn.</li>
<li>We tabulate league table 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 have highlighted KRX short interest weekly changes in Naver.</li>
</ul>


We analyzed the changes in short interest of KRX Stocks as of Dec 8th which has an aggregated short interest worth USD10.8bn.
We tabulate league table 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 have highlighted KRX short interest weekly changes in Naver.


KRX Short Interest Weekly (Dec 8th): Naver

South Korea

SK IE Technology Co., Ltd operates as a material solution provider. The Company provides information material solutions, electronic materials solutions, and other products. SK IE Technology conducts businesses across worldwide.

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SK IE Technology (361610 KS)

SK Group's Restructuring Plans for SK IET and an Earnings Shock for SK IET in 1Q 2024

SK Innovation may sell its controlling stake in SK IE Technology according to Maekyung Daily. SK IET also had an earnings shock in 1Q 2024....

Douglas Kim

Key Timing Window for a Surge in Block Deals Before Pre-Disclosure Takes Effect in July

The Maeil Business Newspaper (Maekyung) exclusively reported just now that SK Innovation is selling its stake in SKIET. The reported volume of the...

Sanghyun Park

KRX Short Interest Weekly (May 3rd): Samsung Electronics, Sk Hynix, Hyundai Motor, Kb Financial

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, Sk Hynix, Hyundai Motor, Kb...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Dec 8th): Naver

We analyzed the KRX short interest report for the past week and we highlighted weekly KRX short interest changes in Naver.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

SK Group's Restructuring Plans for SK IET and an Earnings Shock for SK IET in 1Q 2024

​SK Innovation may sell its controlling stake in SK IE Technology according to Maekyung Daily. SK IET also had an earnings shock in 1Q 2024....

Douglas Kim

Key Timing Window for a Surge in Block Deals Before Pre-Disclosure Takes Effect in July

The Maeil Business Newspaper (Maekyung) exclusively reported just now that SK Innovation is selling its stake in SKIET. The reported volume of the...

Sanghyun Park

KRX Short Interest Weekly (May 3rd): Samsung Electronics, Sk Hynix, Hyundai Motor, Kb Financial

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, Sk Hynix, Hyundai Motor, Kb...

Ke Yan, CFA, FRM

SK Innovation: Announces Share Cancellation of Nearly 4.92 Million Shares

On 5 February, SK Innovation (096770 KS) announced a large-scale shares cancellation of 4.92 million shares, representing 4.9% of outstanding shares.

Douglas Kim

KRX Short Interest Weekly (Dec 8th): Naver

We analyzed the KRX short interest report for the past week and we highlighted weekly KRX short interest changes in Naver.

Ke Yan, CFA, FRM

SK Innovation may sell its controlling stake in SK IE Technology according to Maekyung Daily. SK IET also had an earnings shock in 1Q 2024....