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

Korea IPOs for 2022: 1H Review & 2H Schedules for Flow Clash Risk

WCP Passive Flow Analysis: KOSDAQ 150 Early Entry & Local Battery ETFs

SOCAR Revised Prospectus: Critical Issues Still Not Addressed

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Clepsydra Capital

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

Equity Capital Markets

<ul>
<li>Hyundai Oilbank, this year's biggest fish, dropped the IPO. Another big fish, CJ Olive Young, also officially announced that it would give up its listing.</li>
<li>The bookbuilding results of SOCAR turned out to be disastrous, suggesting an increased possibility that a higher-than-typical flow level will likely be seen in WCP and K Bank. </li>
<li>In particular, despite the valuation issues, we should pay attention to the possibility of an unexpected level of local institutional flows flocking to WCP, which has less schedule risk.</li>
</ul>


Hyundai Oilbank, this year's biggest fish, dropped the IPO. Another big fish, CJ Olive Young, also officially announced that it would give up its listing.
The bookbuilding results of SOCAR turned out to be disastrous, suggesting an increased possibility that a higher-than-typical flow level will likely be seen in WCP and K Bank. 
In particular, despite the valuation issues, we should pay attention to the possibility of an unexpected level of local institutional flows flocking to WCP, which has less schedule risk.


Messed up Korea IPO Pipeline and Unexpected Beneficiaries