In today’s briefing:
- Utilize the Killer Dataset Provided by KRX Through the Value-Up Index
- Doosan Enerbility: Thoughts on the IPO of Doosan Skoda Power
- EQD | Kospi Index Options Weekly (January 20 – 24): Stalled Rally, Flat Implied Vol
Utilize the Killer Dataset Provided by KRX Through the Value-Up Index
- The KRX is going all-in, using data transparency to clean up the Value-Up Index, rebuild trust, and keep it in the spotlight.
- This sharpens predictability for June’s rebalancing, enhances market transparency, and attracts foreign investors to GICS-based indices like the KOSPI 200.
- This could transform index dynamics, boosting inflows, liquidity, and global interest, creating a potential alpha opportunity.
Doosan Enerbility: Thoughts on the IPO of Doosan Skoda Power
- Doosan Skoda Power is getting ready to complete an IPO on the Prague Stock Exchange. The IPO is aiming to gather up to 2.53 billion crowns, or about US$105.5 million.
- Post IPO, Doosan Power System plans to maintain a 67% ownership. Doosan Enerbility (034020 KS) owns a 100% stake in Doosan Power Systems.
- If Doosan Skoda Power is valued at 8.3 billion crowns and if we annualize the company’s net profit to 473 billion in 2024, this would suggest a P/E of 17.5x.
EQD | Kospi Index Options Weekly (January 20 – 24): Stalled Rally, Flat Implied Vol
- Kospi200 has stalled out gaining only 50bps on the week after taking the gain on the month to 5.9%.
- Implied vols have flat-lined with spot grinding out gains and historic vols bracketing implied.
- We highlight the positive seasonality heading into Lunar New Year.
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