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

Equity Capital Markets

Medytox, which used to be one of the bluechip names on KOSDAQ, announces a ₩130bil rights offering.It offers a total of 0.97M shares, which represent 16.26% of the SO. Also, the shareholders will get 0.2 bonus shares for each stock they own.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/148/271/original/1.png?1595888509" class="editor-image img-responsive" data-smartkarma-image-id="148271"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/148/275/original/2.png?1595888730" class="editor-image img-responsive" data-smartkarma-image-id="148275"></figure>September 1 will be the reference date for preliminary pricing. So, the ex-rights day falls two trading days later on September 3. You can trade the subscription rights for five trading days starting September 25 until October 5.Then, the final pricing will follow on October 8. The subscription is October 14, followed by the payment on October 22. The new shares will get listed on November 4.As for the bonus shares, the record date is October 23, followed by the listing on November 12, which is five trading days later.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/148/279/original/3.png?1595889173" class="editor-image img-responsive" data-smartkarma-image-id="148279"></figure>There is nothing unusual in pricing. It carries a usual 20% discount.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/148/280/original/5.png?1595889426" class="editor-image img-responsive" data-smartkarma-image-id="148280"></figure>

Medytox, which used to be one of the bluechip names on KOSDAQ, announces a ₩130bil rights offering.It offers a total of 0.97M shares, which represent 16.26% of the SO. Also, the shareholders will get 0.2 bonus shares for each stock they own.September 1 will be the reference date for preliminary pricing. So, the ex-rights day falls two trading days later on September 3. You can trade the subscription rights for five trading days starting September 25 until October 5.Then, the final pricing will follow on October 8. The subscription is October 14, followed by the payment on October 22. The new shares will get listed on November 4.As for the bonus shares, the record date is October 23, followed by the listing on November 12, which is five trading days later.There is nothing unusual in pricing. It carries a usual 20% discount.

Medy Tox Inc

Medytox Rights Offer: Terms & Situations