bullish

Kakao Pay

Kakao Pay's MSCI Float Should Be 55% at Aug QIR Based on the Case of Kakao Games

Event-Driven
424 Views, 24 Jun 2022 05:32
EXECUTIVE SUMMARY
  • The MSCI immediately included 4.31% owned by Netmarble in Kakao Games' float by applying one of the exception rules in Sections 3.2.4 or 3.2.5 of the MSCI GIMI Methodology Book.
  • The exception rule used here must have been this one: Re-estimating free float figures resulting from the reclassification of shareholders from strategic to non-strategic.
  • I can't find a reason why this practice of the MSCI shouldn't be equally applied to Alipay's Kakao Pay stake.
detail (4-minute read)
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Sanghyun Park
Korea / Special Sits, Pairs, Index Rebalancing
Clepsydra Capital
South KoreaEvent-DrivenEquity Bottom-Up

I investigate special situations, pairs, and index rebalancing trades in Korea.

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