Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Samsung Electronics (005930 KS) Outlook After 3.9 Trillion Won Buyback Plan Announcement

Samsung Daily Buyback Flow Compiled (Excel): Notable Flow/Price Sync Pattern Identified

Samsung Electronics’ Phase 2 Buyback Disposal Plan Virtually Finalized: Two Key Trading Implications

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Samsung Electronics Pref Shares / Event-Driven

Samsung Electronics Pref Shares (005935 KS)

<ul>
<li>If stock comp stays all in commons like last time, cancellation hits ~1.40% of SO in commons, 1.72% in prefs — setting up preferreds for relative outperformance.</li>
<li>If they cancel the full pool, Samsung Life + Fire’s stake hits 10.14%, forcing a ₩500B block — nearly 2x the ₩280B print back in Feb.</li>
<li>Again, odds are the overage hits the tape again — watch for a potential block print before the third leg wraps, like what played out in Feb.</li>
</ul>


If stock comp stays all in commons like last time, cancellation hits ~1.40% of SO in commons, 1.72% in prefs — setting up preferreds for relative outperformance.
If they cancel the full pool, Samsung Life + Fire’s stake hits 10.14%, forcing a ₩500B block — nearly 2x the ₩280B print back in Feb.
Again, odds are the overage hits the tape again — watch for a potential block print before the third leg wraps, like what played out in Feb.


Breaking Down the Moving Parts in Samsung’s Third-Leg Buyback Play