Daily Brief Event-Driven: Flow Trading Targeting Cap Reversion in TIGER Battery ETF Rebalancing on April 13 and more

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.

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.

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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