Hanwha Systems IPO Valuation Analysis
The Hanwha System IPO is one of the largest IPOs in Korea in 2019.Our base case valuation of Hanwha Systems is 16,322 won per share or 1.8 trillion...
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Last Week in Event SPACE: UNIZO, Maanshan, SK Holdings, Z Holdings, AVIC, TVB, HN Renewable, Webster
Last Week in Event SPACE ... On a risk-reward basis on the Unizo Holdings (3258 JP) deal, if Ichigo, Elliott, and others do not step in, this may...
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Last Week in Event SPACE: Naspers/Prosus, Bellamy, Unizo, LSE/HKEx, Bitauto, China Biologic, Artgo
Last Week in Event SPACE ... The combination of Prosus (PRX NA) and Naspers (NPN SJ) is now below its pre-spin off level, with a look-through...
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SK Holdings Short Idea on Asiana Airlines
There is a growing speculation that SK Holdings, not SKT, is preparing for Asiana takeover. The story is SK E&C's recent CGH block deals (3.3%...
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Korea Stock Market Monthly Recap #39 (August 2019)
Our model portfolio was down net 0.3% in August (cash was 50% of our model portfolio) outperforming KOSPI which was down 2.8% in August. The...
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