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

POSCO - Two Major Factors Impacting the Formation of a Holding Company Structure (Valuation & ESG)

Korea NPS: Asset Allocation Targets & Negative Screening on Coal

POSCO: Three Key Catalysts (Lithium Asset Revaluation, Share Buyback, & Steel Price Hike)

Gravity Works As WeWork Doesn't; Now Plan B

Clepsydra Capital

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

Event-Driven

<ul>
<li>It is safe to take that POSCO acknowledged the conversion to a holding company.</li>
<li>Since there is a high probability of no appraisal rights, it seems risky to start building a position without hedging at this point.</li>
<li>It seems better to build a position when the split is disclosed through a regulatory filing. The direction should be aligned with the share buyback momentum with a long position.</li>
</ul>


It is safe to take that POSCO acknowledged the conversion to a holding company.
Since there is a high probability of no appraisal rights, it seems risky to start building a position without hedging at this point.
It seems better to build a position when the split is disclosed through a regulatory filing. The direction should be aligned with the share buyback momentum with a long position.


POSCO Split Dynamics from a Trading Perspective

POSCO Holdings

POSCO Split Dynamics from a Trading Perspective