In today’s briefing:
- HYBE: Block Deal Sale of SM Entertainment
- An Early Look at Potential Deletions and Additions to KOSPI200 in December 2024
- FnGuide Top 5 Plus Index Rebalance Preview: Celltrion Could Replace KT&G
- Shift Up IPO – Peer Comparison – Small in Size but Ranks High on Growth and Margins
HYBE: Block Deal Sale of SM Entertainment
- After the market close on 27 May, HYBE (352820 KS) announced that it will conduct a block deal sale of 0.75 million to 0.94 million shares of SM Entertainment.
- The block deal sale price discount is 4% to 5.5% discount to the closing price on 27 May (95,800 won).
- One of the major positive, recent issues facing the Korean K-Pop related stocks has been the potential easing of Korean content restrictions by China.
An Early Look at Potential Deletions and Additions to KOSPI200 in December 2024
- In this insight, we provide an early look at the potential additions and deletions to KOSPI200 rebalance in December 2024.
- The seven potential additions are up on average 53.9% from end of 2023. The seven potential deletion candidates are down on average 14.2% YTD.
- The average market cap of the seven potential additions is 2.2 trillion won. The average market cap of the seven potential deletion candidates is 0.7 trillion won.
FnGuide Top 5 Plus Index Rebalance Preview: Celltrion Could Replace KT&G
- The Samsung KODEX Top5Plus Total Return ETF (315930 KS) tracks the FnGuide Top 5 Plus Index and has an AUM of KRW 1,357bn (~US$1bn).
- We currently see a high probability of Celltrion Inc (068270 KS) replacing KT&G Corporation (033780 KS) in the index at the June rebalance.
- There is between 1-2 days of ADV to trade on the potential add and delete and smaller flows on the other index members due to capping and funding changes.
Shift Up IPO – Peer Comparison – Small in Size but Ranks High on Growth and Margins
- Shift Up (462870 KS) plans to raise up to US$320m in its upcoming South Korean IPO.
- Shift Up is a South Korean games developer, which as released three games so far for the global markets.
- In our previous note, we looked at the company’s past performance. In this note, we will undertake a peer comparison.
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