Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>The next policy swing is mandatory tender offers (MTO), with the gov’t + ruling party pushing for passage this session, likely alongside the mandatory treasury-share cancellation.</li>
<li>2022 FSS/FSC 50%+1 trigger scrapped; 25% stays. Ruling party favors 50%+ MTO, base case 100%, but pushback may reduce to 70–80%.</li>
<li>MTOs tighten discounts, benefit minority holders; focus on local holding firms, PE-backed exits, and parent-driven M&amp;A prospects.</li>
</ul>


The next policy swing is mandatory tender offers (MTO), with the gov’t + ruling party pushing for passage this session, likely alongside the mandatory treasury-share cancellation.
2022 FSS/FSC 50%+1 trigger scrapped; 25% stays. Ruling party favors 50%+ MTO, base case 100%, but pushback may reduce to 70–80%.
MTOs tighten discounts, benefit minority holders; focus on local holding firms, PE-backed exits, and parent-driven M&amp;A prospects.


Korea's 4th Policy Trade Is Right Around the Corner: Mandatory Tender Offers

Lotte Rental

Korea's 4th Policy Trade Is Right Around the Corner: Mandatory Tender Offers