In today’s briefing:
- Daemyung Sono Group: Close to Acquiring the Controlling Stake in T’Way Air
- A Real-World Take on the Market Worries Around the Samsung Life Act Proposal
- Kospi Index Options Weekly (February 10 – 14): Call Volumes Rebound
Daemyung Sono Group: Close to Acquiring the Controlling Stake in T’Way Air
- After the market close on 17 February, it was announced that the Daemyung Sono Group is close to acquiring the controlling stake in T’Way Air (091810 KS) from Yelimdang.
- As the negotiations between the two sides have come to a near agreement, Daemyung Sono is expected to be able to appoint nine directors at the next upcoming AGM.
- Typically in cases like this in Korea, the near term impact would be decline in share prices of T’Way Air and T’Way Holdings due to lack of an M&A play.
A Real-World Take on the Market Worries Around the Samsung Life Act Proposal
- The Rebuilding Korea Party’s hints about this bill since Thursday are seen as a key reason Samsung Electronics’ stock has stalled, despite hype around affiliate shareholder returns.
- With polls dipping, Lee is shifting right. Given the political shifts, pushing through the controversial Samsung Life Act seems unlikely for now.
- Instead of focusing on legislative chances, we should see Samsung Electronics’ stock stall as a short-term entry opportunity ahead of the shareholder return announcement
Kospi Index Options Weekly (February 10 – 14): Call Volumes Rebound
- Very low volatility rally with Kospi up 2.63% but still 7% below the 52-week high.
- Implied vols moving in opposition to the rally, dropping 1 point on the week.
- Call volumes rebounded significantly with the most active Call strike trading more than twice as much as the most active Put strike.
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