Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>KDB just signaled they’ll offload their Hanjin KAL stake post-merger, likely in 2027—ending speculation they’d stay long-term to back Cho Won-tae.</li>
<li>The 9% held by Daishin and Eugene PEs may hit the market in August, with LPs likely to cash out—Hoban grabbing it could flip the whole Hanjin KAL setup.</li>
<li>If Hoban grabs the 9% PE stake in August, it could trigger a pre-2027 bidding war—possibly even a tender offer—to lock down float. This is the key near-term pivot.</li>
</ul>


KDB just signaled they’ll offload their Hanjin KAL stake post-merger, likely in 2027—ending speculation they’d stay long-term to back Cho Won-tae.
The 9% held by Daishin and Eugene PEs may hit the market in August, with LPs likely to cash out—Hoban grabbing it could flip the whole Hanjin KAL setup.
If Hoban grabs the 9% PE stake in August, it could trigger a pre-2027 bidding war—possibly even a tender offer—to lock down float. This is the key near-term pivot.


Why Late August Could Be the Pivot Point for the Hanjin KAL Trade?

Hanjin KAL Corp

Why Late August Could Be the Pivot Point for the Hanjin KAL Trade?