Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Running Through the Context Behind Chatter of HMC Rolling Out a Pref‑tilted First‑leg Buyback

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>Fiduciary duty expansion gains teeth once the third-stage treasury cancellation passes—setting up Class A prefs as prime re-rating, discount-compression plays in local flows.</li>
<li>Fiduciary duty expansion gives Class A prefs new legal backing, making them standout re-rating plays with discount-compression potential, unlike Class B with built-in dividend protections.</li>
<li>Hyundai Motor 1P vs 2PB offers a tight but tradable setup, while CJ Corp and AmoreH show wider A/B gaps, even after adjusting convertible premiums.</li>
</ul>


Fiduciary duty expansion gains teeth once the third-stage treasury cancellation passes—setting up Class A prefs as prime re-rating, discount-compression plays in local flows.
Fiduciary duty expansion gives Class A prefs new legal backing, making them standout re-rating plays with discount-compression potential, unlike Class B with built-in dividend protections.
Hyundai Motor 1P vs 2PB offers a tight but tradable setup, while CJ Corp and AmoreH show wider A/B gaps, even after adjusting convertible premiums.


Fiduciary Duty Expansion in Korea Fuels Class A Prefs Relative Value Trade