Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

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

Korea / Special Sits, Pairs, Index Rebalancing

FSS's Position on Krafton IPO & The Mood of Foreign Investors Revealed by Mirae Asset

Krafton IPO Offering Price/​Size Adjustment & Valuation Re-Review

Krafton Post-IPO Immediate Float Estimation for MSCI FAST ENTRY

Krafton's Strategic Intention Behind High Offering Price & FSS Correction Request Possibility

Krafton's Biggest Lie About Tencent Relationship & Regulation Risk in China

FSS Requested Krafton to Revise the Offering Price: Background & Impact

Clepsydra Capital

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

Equity Capital Markets

On June 25, Krafton received a request from the Financial Supervisory Service to revise its securities declaration (IPO prospectus).However, it is known that Mirae Asset Securities, the lead underwriter, visited the Financial Supervisory Service on the afternoon of the 24th and discussed the correction of the securities declaration.In other words, it can be seen that Mirae Asset Securities is actively lobbying the Financial Supervisory Service. And it's definitely unusual.Why is Mirae Asset Securities doing this?Mirae Asset Securities is still adhering to the position that it does not plan to change the IPO price of Krafton externally. And I think we can get a hint here.

On June 25, Krafton received a request from the Financial Supervisory Service to revise its securities declaration (IPO prospectus).However, it is known that Mirae Asset Securities, the lead underwriter, visited the Financial Supervisory Service on the afternoon of the 24th and discussed the correction of the securities declaration.In other words, it can be seen that Mirae Asset Securities is actively lobbying the Financial Supervisory Service. And it's definitely unusual.Why is Mirae Asset Securities doing this?Mirae Asset Securities is still adhering to the position that it does not plan to change the IPO price of Krafton externally. And I think we can get a hint here.

Krafton and Mirae Asset Are Playing a Fairly Risky Game