Round two

Following a period where the Korean “Corporate Value-Up” (CVU) beneficiaries retreated to below start-of-year levels, effectively pricing in a zero chance of success, the group staged a tentative, partial rebound in July (figure 1), potentially marking the start of “Round two”. ... more

LINE must postpone the squeeze-out EGM

Mr. LEE Hae-Jin Chairman of the Board LINE Corporation JR Shinjuku Miraina Tower 23F 4-1-6 Shinjuku Shinjuku-ku Tokyo 160-0022 Japan

Dear Mr. Lee,

Metrica Partners Pte. Ltd. (“Metrica”) is the manager of, and adviser to multiple funds that own shares in LINE Corp. (“LINE”).

We refer to yesterday’s announcement by LINE, showing that a majority of independent shareholders joined Metrica in refusing to tender their shares into the Joint Tender Offer by SoftBank and NAVER. ... more