Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>In this insight, I highlight the recent pricing gap divergences of the major Korean holdcos and opcos which could provide trading opportunities in 3Q 2026</li>
<li>I provide six holdco/opco pairs that have experienced noticeable divergence in the past three months and closing of their gaps could occur in the next several weeks.</li>
<li>Of the 38 pairs, three of them are near or more than 2 standard deviations (in terms of their changing share price movements in the past three months).</li>
</ul>


In this insight, I highlight the recent pricing gap divergences of the major Korean holdcos and opcos which could provide trading opportunities in 3Q 2026
I provide six holdco/opco pairs that have experienced noticeable divergence in the past three months and closing of their gaps could occur in the next several weeks.
Of the 38 pairs, three of them are near or more than 2 standard deviations (in terms of their changing share price movements in the past three months).


Korean Holdcos Vs Opcos Gap Trading Opportunities in 3Q 2026

Thematic (Sector/Industry)

<div class="content-highlight">
<p>The Asian OTT sector is one of the most attractive industries to be in the next five years. In this report, we highlight numerous major potential winners and discuss some of the most important factors impacting the OTT sector in Asia. There are three crucial trends that will impact the Asian OTT sector:</p>
<ul>
<li>A surging growth of 5G services</li>
<li>Increased consolidations and partnerships especially among the global OTTs and local content providers/OTTs</li>
<li>Greater spending on higher quality contents in efforts to improve consumer retention</li>
</ul>
<p><strong>The main purpose of this report is as follows:</strong></p>
<ul>
<li>Identify the major players (both public &amp; private) in the OTT sector in Asia</li>
<li>Specify the key trends driving the Asian OTT industry</li>
<li>Provide an initial overview of the key companies in the Asian OTT industry</li>
</ul>
</div>


The Asian OTT sector is one of the most attractive industries to be in the next five years. In this report, we highlight numerous major potential winners and discuss some of the most important factors impacting the OTT sector in Asia. There are three crucial trends that will impact the Asian OTT sector:

A surging growth of 5G services
Increased consolidations and partnerships especially among the global OTTs and local content providers/OTTs
Greater spending on higher quality contents in efforts to improve consumer retention

The main purpose of this report is as follows:

Identify the major players (both public &amp; private) in the OTT sector in Asia
Specify the key trends driving the Asian OTT industry
Provide an initial overview of the key companies in the Asian OTT industry



Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a> (SKH), a leading global memory producer, aims to raise up to US$30bn via an ADR listing.</li>
<li>We have looked at the past performance and other deal dynamics in our previous notes.</li>
<li>In this note, we talk about updates from its filings, Micron’s results and provide further thoughts on valuations.</li>
</ul>



SK Hynix (000660 KS) (SKH), a leading global memory producer, aims to raise up to US$30bn via an ADR listing.
We have looked at the past performance and other deal dynamics in our previous notes.
In this note, we talk about updates from its filings, Micron’s results and provide further thoughts on valuations.


Aequitas: SK Hynix ADR Listing - Filings Updates, Micron Results, Valuations

<div class="content-highlight"><p><a href="https://www.smartkarma.com/entities/paypal-holdings-inc" target="_blank" data-smartkarma-citation="entities:4747:1" rel="noopener">Paypal Holdings (PYPL US) </a>made a major <a href="https://edition.cnn.com/2020/10/21/investing/paypal-bitcoin-cryptocurrencies/index.html" target="_blank" rel="noopener">announcement</a> yesterday, launching its own cryptocurrency service that will allow its users to buy, hold, and sell digital currencies such as Bitcoin and Ethereum on its site and applications. For now, PayPal's service will provide customers with the ability to hold and exchange cryptocurrencies. For PayPal's US customers, they will be able to pay for products and services using cryptocurrencies starting in early 2021. Other international users of PayPal will be able to use this service starting sometime in 1H 2021. </p></div><h3>Top 5 AsiaPac Crypto-Sensitive Names to Play</h3><ul>
<li><strong>SBI Holdings</strong></li>
<li><strong>Kakao Corp</strong></li>
<li><strong>Kingsoft Cloud</strong></li>
<li><strong>TSMC</strong></li>
<li><strong>LINE</strong></li>
</ul>

Paypal Holdings (PYPL US) made a major announcement yesterday, launching its own cryptocurrency service that will allow its users to buy, hold, and sell digital currencies such as Bitcoin and Ethereum on its site and applications. For now, PayPal's service will provide customers with the ability to hold and exchange cryptocurrencies. For PayPal's US customers, they will be able to pay for products and services using cryptocurrencies starting in early 2021. Other international users of PayPal will be able to use this service starting sometime in 1H 2021. Top 5 AsiaPac Crypto-Sensitive Names to Play
SBI Holdings
Kakao Corp
Kingsoft Cloud
TSMC
LINE


PayPal Allows Transactions in Cryptos: Top 5 AsiaPac Crypto-Sensitive Names to Play

Cross Asset Strategy

<h2>Review of Top 10 Issues Related to Korean Stock Market, Economy, &amp; Politics in September 2020</h2><ul>
<li><div class="content-highlight"><strong>Value &amp; GARP outperforming Growth</strong></div></li>
<li><strong>Big Hit Entertainment IPO </strong></li>
<li><strong>Kakao Games IPO </strong></li>
<li><strong>IPOs of Kakao Pay, Kakao Bank, &amp; Kakao Page in 2021 </strong></li>
<li><strong>A merger of the three Celltrion companies </strong></li>
<li><strong>LG Chem's carve-out of its rechargeable battery business </strong></li>
<li><strong>Big rights offerings by Doosan Heavy Industries &amp; Doosan Fuel Cell </strong></li>
<li><strong>HDC Hyundai Development gives up on Asiana Airlines </strong></li>
<li><strong>Nikola's founder resigns - Impact on Hanwha Solutions</strong></li>
<li><strong>Samsung Electronics (Dividends) </strong></li>
</ul>

Review of Top 10 Issues Related to Korean Stock Market, Economy, &amp; Politics in September 2020
Value &amp; GARP outperforming Growth
Big Hit Entertainment IPO 
Kakao Games IPO 
IPOs of Kakao Pay, Kakao Bank, &amp; Kakao Page in 2021 
A merger of the three Celltrion companies 
LG Chem's carve-out of its rechargeable battery business 
Big rights offerings by Doosan Heavy Industries &amp; Doosan Fuel Cell 
HDC Hyundai Development gives up on Asiana Airlines 
Nikola's founder resigns - Impact on Hanwha Solutions
Samsung Electronics (Dividends) 


Korea Stock Market Monthly Recap #52 (September 2020)

South Korea

Kakao Corp. provides Internet portal services such as news, free e-mail, and leisure information.  The Company also offers cross-platform mobile messaging application that allows users to exchange messages.

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Kakao Corp (035720 KS)

Korean Holdcos Vs Opcos Gap Trading Opportunities in 3Q 2026

In this insight, I highlight the recent pricing gap divergences of the major Korean holdcos and opcos which could provide trading opportunities in...

Douglas Kim

Asian OTT Wars

The Asian OTT sector is one of the most attractive industries to be in the next five years. In this Smartkarma Original, we discuss some of the...

Douglas Kim

Aequitas: SK Hynix ADR Listing - Filings Updates, Micron Results, Valuations

SK Hynix (000660 KS) (SKH), a leading global memory producer, aims to raise up to US$30bn via an ADR listing. In this note, we talk about the...

Sumeet Singh

PayPal Allows Transactions in Cryptos: Top 5 AsiaPac Crypto-Sensitive Names to Play

Paypal recently announced that it will allow the use of cryptocurrencies on its website. In this insight, we discuss the top 5 Asian companies that...

Douglas Kim

Korea Stock Market Monthly Recap #52 (September 2020)

Review of Top 10 Issues Related to Korean Stock Market, Economy, Politics in September 2020

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)