Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Biologics Spinco Filing: Posts Far More Aggressive Post-Listing Share Swap Lock-Up Than Expected

Clarifying a Few Points of Confusion Surrounding the Samsung Biologics Spin-Off

Clearing Confusion on Samsung C&T’s Forced Holding Co Conversion: Key Trade Angle in Biologics Split

Intel Summary on Samsung Biologics Split and Samsung C&T’s Acquisition of Samsung Electronics Shares

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>One of the hottest local plays is gauging KRX and FSS leanings on Biologics split, which could drive short-term alpha across the three Samsung names alongside battery and HBM flows.</li>
<li>Short-Term focus is KRX pre-listing review and FSS registration window. Once approval and lock-up kick in, Biologics and Samsung Electronics could outperform Samsung C&amp;T.</li>
<li>From a risk-hedge angle, this is a long-short alpha setup: if the split fails, Samsung C&amp;T likely takes the hit, offering alpha potential both ways.</li>
</ul>


One of the hottest local plays is gauging KRX and FSS leanings on Biologics split, which could drive short-term alpha across the three Samsung names alongside battery and HBM flows.
Short-Term focus is KRX pre-listing review and FSS registration window. Once approval and lock-up kick in, Biologics and Samsung Electronics could outperform Samsung C&amp;T.
From a risk-hedge angle, this is a long-short alpha setup: if the split fails, Samsung C&amp;T likely takes the hit, offering alpha potential both ways.


Current Samsung Biologics Split Dynamics with Alpha Potential Both Ways