In today’s briefing:
- Korea’s Mandatory Treasury Share Cancellation Situation Creates New Passive Flow Dynamics
- Aimedbio IPO Preview
Korea’s Mandatory Treasury Share Cancellation Situation Creates New Passive Flow Dynamics
- KRX may preemptively adjust KOSPI 200 screening, switching from full market cap to market cap excluding treasury shares for index inclusion.
- With treasury-share cancellation likely this quarter, KRX may act before June ’26. For December KOSPI 200, we should run both full-cap and ex-treasury screens; flows could behave unusually.
- Focusing on Hanssem (009240 KS) and Taekwang (003240 KS); borderline, high treasury shares, potential KOSPI 200 exclusion, making them key flow-sensitive setups for December reshuffle.
Aimedbio IPO Preview
- Aimedbio is getting ready to complete its IPO in KOSDAQ in November 2025. The IPO price range is from 9,000 won to 11,000 won per share.
- According to the bankers’ IPO price range, the expected market cap after the IPO is from 599 billion won to 732 billion won.
- Aimedbio has advanced multiple antibody-drug conjugates (ADC) candidates into preclinical and early clinical stages.
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