In today’s briefing:
- Flow Trading Targeting Cap Reversion in TIGER Battery ETF Rebalancing on April 13
- Four Companies Likely to Switch Their Listing from KOSDAQ to KOSPI in 2023/2024
- MFE/Mediaset España: Merger Approval, Spread and Delisting
Flow Trading Targeting Cap Reversion in TIGER Battery ETF Rebalancing on April 13
- There seems to be no constituent change this time. However, opportunities from cap reversion are likely to lead to noteworthy passive flows.
- Ecopro BM and Ecopro Co will experience a weight movement of -4.35% and -3.68%p. On the other hand, SK Innovation will enjoy the most pleasant passive impact.
- At KODEX Battery’s March rebalancing, the Long SK Innovation Short Ecopro BM position setup provided a return of more than 10% with a similar level of impact x ADTV.
Four Companies Likely to Switch Their Listing from KOSDAQ to KOSPI in 2023/2024
- In this insight, we discuss four companies that are likely to switch their listing from KOSDAQ to KOSPI in 2023/2024.
- These four companies include Ecopro BM, Ecopro Co, BH Co, and Nice Information Service.
- BH Co and Nice Information Service have included the agenda of transfer of the listing from KOSDAQ to KOSPI in their upcoming AGMs this month.
MFE/Mediaset España: Merger Approval, Spread and Delisting
- TL5 holdouts have exposed themselves to being trapped by MFE, which has already shown in the past that it has no qualms about running its subsidiary for its own interests.
- The implied exchange values the audiovisual business of TL% at 1.2 EV/22eEBITDA TL5/MFEA spread is +3.02%, I would wait for it to turn negative to open a position.
- MFE A shares are trading at a 34.7% discount, which seems excessive nevertheless. With more A shares coming in the market (and higher liquidity), I would be long MFEA/short MFEB.
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