In today’s briefing:
- Introducing Trading Opportunities from Newly Listed Top 3 Korea Sector ETF Futures
- Jinke Smart (9666 HK): Boyu’s Offer Now Unconditional
- Vivani Medical Prepares Spin-Off of Cortigent: Neuromodulation Gets Its Own Spotlight
- TSI Buys Freak’s Store Owner Daytona International
Introducing Trading Opportunities from Newly Listed Top 3 Korea Sector ETF Futures
- New futures launched on KRX Semis, PLUS K-Defense, and SOL Shipbuilding ETFs — the first sector-focused ETFs over 1T KRW to get futures.
- All three sectors dominate Korea’s market, already absorbing liquidity, and ETF futures could trigger delta-hedge arb flows, pushing liquidity even higher.
- All three indices are top-heavy, so flows in big-weight names can create spot-futures dislocations and alpha on individual spreads—especially during early MM liquidity and aggressive basis plays.
Jinke Smart (9666 HK): Boyu’s Offer Now Unconditional
- Back on the 28th April 2025, PRC-incorporated property management play Jinke Smart Services (9666 HK) announced a possible unconditional MGO take-under at HK$6.67/share.
- The Boyu-backed Offeror and Concert Parties holding 37.86% (at the time), bought Jinke Property (000656 CH)‘s 18.05% stake at auction on the 30th March, triggering an unconditional MGO (once completed).
- The “Auction Transfer” was subject to CSDC oversight, which has now been satisfied/completed. The Composite Doc is expected to be dispatched on or before the 26th September.
Vivani Medical Prepares Spin-Off of Cortigent: Neuromodulation Gets Its Own Spotlight
- Vivani Medical has set Oct 8, 2025 as teh record date for its earlier announced spin-off of its neuromodulation subsidiary, Cortigent Inc.
- Vivani will retain its focus on its GLP-1 implant pipeline for metabolic disease. Investors get clean exposure to two very different growth narratives: neuromodulation (BCI) and drug implants.
- If executed properly, this spin-off could unlock meaningful valuation uplift particularly for Cortigent in a promising but under-served medtech space.
TSI Buys Freak’s Store Owner Daytona International
- Like all the big apparel firms, TSI sees diversification as one of the few ways to find growth in a contracting market.
- It has the cash to do this and has just bought Daytona, the respected operator of the Freak’s store chain.
- It will use its access to capital to accelerate expansion for new fashion chains.
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