Safkhet Sentinel Plans Korea Push With Seoul Office
Fahmi Quadir's Safkhet Sentinel will open a Seoul office and plans a pilot shareholder engagement with one Korean company before next year's annual meetings.
Safkhet Sentinel, the long-short platform founded by Fahmi Quadir, is preparing a pilot shareholder engagement with one Korean company ahead of the country's next regular shareholder meeting season, according to bloter.net.
The firm will open a Seoul office to carry out research and shareholder engagement in Korea. The new vehicle is its first dedicated to the Korean market and is backed by large US and European family offices and institutional investors.
Quadir said long positions in Korea will go through the same forensic analysis process the firm has applied to its past short positions.
Governance changes in focus
According to Quadir, Korea's National Assembly has mandated that companies cancel treasury shares within one year of acquisition. She also said rules limiting controlling shareholders' voting rights to 3% in spinoff listings have taken effect in Korea, effectively ending carved-out listing practices.
Safkhet Sentinel was established in July of this year as a long-short platform.
Quadir ran Safkhet Capital, a two-person fund focused on shorting fraud and predatory business models, for eight years, gaining recognition for shorting Valeant and Wirecard over accounting fraud.
Quick answers
What is Safkhet Sentinel?
Safkhet Sentinel is a long-short platform established in July of this year by Fahmi Quadir.
Where will Safkhet Sentinel open an office?
It will open a Seoul office to conduct research and shareholder engagement in Korea.
What is Safkhet Sentinel's plan for Korea?
It plans a pilot shareholder engagement with one Korean company before Korea's next regular shareholder meeting season.