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

Clarifications Regarding the FSS's Unexpected Revision Request for the Doosan Mergers

Thoughts on Capturing the 7% Doosan Swap Spread

Trading Opportunities Arising from the Enactment of The "Doosan Bobcat Prevention Law"

Clepsydra Capital

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

Event-Driven

<ul>
<li>During Kim Byung-hwan's hearing, he acknowledged market concerns about the Doosan merger, increasing skepticism about Doosan's ability to maintain the original merger ratio.</li>
<li>Calculating Bobcat's net asset value using the net asset value method yields approximately ₩6.1T, derived from ₩5.95T in year-end equity plus ₩0.13T in adjustments.</li>
<li>Reassess arb trading opportunities; with no short hedge for Robotics, consider an outright long position in Bobcat if its swap price is revised and the spread widens.</li>
</ul>


During Kim Byung-hwan's hearing, he acknowledged market concerns about the Doosan merger, increasing skepticism about Doosan's ability to maintain the original merger ratio.
Calculating Bobcat's net asset value using the net asset value method yields approximately ₩6.1T, derived from ₩5.95T in year-end equity plus ₩0.13T in adjustments.
Reassess arb trading opportunities; with no short hedge for Robotics, consider an outright long position in Bobcat if its swap price is revised and the spread widens.


Robotics+Bobcat Merger: Merger Ratio Revision Possibility & Arb Spread Recalculations

Doosan Bobcat Inc

Robotics+Bobcat Merger: Merger Ratio Revision Possibility & Arb Spread Recalculations