Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Oct 10th. The aggregated short interest was USD11.4bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in HYUNDAI ROTEM, Samsung Electronics, Hyundai Motor, SK Hynix, LG Chem.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Oct 10th. The aggregated short interest was USD11.4bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in HYUNDAI ROTEM, Samsung Electronics, Hyundai Motor, SK Hynix, LG Chem.


KRX Short Interest Weekly (Oct 10th): HYUNDAI ROTEM, Samsung Electronics, Hyundai Motor, SK Hynix

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

<ul>
<li>Hanon Systems announced that it has finalized a rights offering capital increase of 900 billion won. This capital raise will involve 347.5 million common shares (51.2% of outstanding shares)</li>
<li>The expected rights offering price is 2,590 won per share, which is 18.4% lower than current price of 3,175 won. </li>
<li>We remain Negative on Hanon Systems (018880 KS). There is a high probability that this rights offering deal will likely be a dilutive deal for the Hanon System shareholders.</li>
</ul>


Hanon Systems announced that it has finalized a rights offering capital increase of 900 billion won. This capital raise will involve 347.5 million common shares (51.2% of outstanding shares)
The expected rights offering price is 2,590 won per share, which is 18.4% lower than current price of 3,175 won. 
We remain Negative on Hanon Systems (018880 KS). There is a high probability that this rights offering deal will likely be a dilutive deal for the Hanon System shareholders.


Hanon Systems - A Rights Offering of 900 Billion Won

Event-Driven

<ul>
<li>On 14 August, Hanon Systems (018880 KS) announced a potential rights offering capital raise. The exact amount will be finalized at the EGM next month. </li>
<li>The significant size of the rights offering is expected to burden its largest shareholder Hankook Tire &amp; Technology (161390 KS) which owns a 54.8% stake in Hanon Systems. </li>
<li>We believe the potential rights offering is likely to continue to negatively impact Hanon Systems by diluting its existing shareholders. </li>
</ul>


On 14 August, Hanon Systems (018880 KS) announced a potential rights offering capital raise. The exact amount will be finalized at the EGM next month. 
The significant size of the rights offering is expected to burden its largest shareholder Hankook Tire &amp; Technology (161390 KS) which owns a 54.8% stake in Hanon Systems. 
We believe the potential rights offering is likely to continue to negatively impact Hanon Systems by diluting its existing shareholders. 


Hanon Systems Announces a Major Potential Rights Offering

CEO, Helixtap

Farah Miller

Global Commodities Alternative Data and Insights

Helixtap

Helixtap collects, processes and distributes proprietary data, analyses and forecasts for the rubber, latex and automotive markets

Commodities

<ul>
<li>The tire majors losing volume   </li>
<li>Smaller tire makers gaining prominence   </li>
<li>Most tire majors saw flat or drop in profits</li>
</ul>


The tire majors losing volume   
Smaller tire makers gaining prominence   
Most tire majors saw flat or drop in profits


Annual Tire Company Results Show Pace Of Change

Equity Bottom-Up

<ul>
<li>In this insight, we provide the top 10 stocks picks in the Korean stock market for the two weeks starting 17 February.</li>
<li>The top 10 stock picks (bi-weekly) include Hyundai G.F. Holding, Binggrae, Cheil Worldwide, Hana Tour, Samsung Electronics (pref), Samsung E&amp;A, Hyundai Elevator, KT Corp, Orion Corp, and Samsung Life Insurance. </li>
<li>We started to incorporate top negative catalysts along with positive catalysts in our top stock picks bi-weekly. Top negative catalyst is tariffs. We tried to exclude companies exposed to tariffs.</li>
</ul>


In this insight, we provide the top 10 stocks picks in the Korean stock market for the two weeks starting 17 February.
The top 10 stock picks (bi-weekly) include Hyundai G.F. Holding, Binggrae, Cheil Worldwide, Hana Tour, Samsung Electronics (pref), Samsung E&amp;A, Hyundai Elevator, KT Corp, Orion Corp, and Samsung Life Insurance. 
We started to incorporate top negative catalysts along with positive catalysts in our top stock picks bi-weekly. Top negative catalyst is tariffs. We tried to exclude companies exposed to tariffs.


Top 10 Korean Stock Picks Bi-Weekly (17 February 2025)

South Korea

Hankook Tire & Technology Co. Ltd. develops and manufactures radial tires for passenger cars, light trucks, trucks, and buses.  The Company also produces batteries and aluminum alloy wheels and operates real estate business.

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Hankook Tire & Technology (161390 KS)

KRX Short Interest Weekly (Oct 10th): HYUNDAI ROTEM, Samsung Electronics, Hyundai Motor, SK Hynix

We analyzed KRX short interest report for the past week and highlighted short interest changes in HYUNDAI ROTEM, Samsung Electronics, Hyundai...

Ke Yan, CFA, FRM

Hanon Systems - A Rights Offering of 900 Billion Won

Hanon Systems announced that it has finalized a rights offering capital increase of 900 billion won. This capital raise will involve 347.5 million...

Douglas Kim

Hanon Systems Announces a Major Potential Rights Offering

We believe the potential rights offering is likely to continue to negatively impact Hanon Systems by diluting its existing shareholders. The exact...

Douglas Kim

Annual Tire Company Results Show Pace Of Change

All of the top tire makers have now released their results for the full year 2024, and the data confirms the trends in discussion throughout the...

Helixtap

Top 10 Korean Stock Picks Bi-Weekly (17 February 2025)

The top 10 stock picks (bi-weekly) include Hyundai G.F. Holding, Binggrae, Cheil Worldwide, Hana Tour, Samsung Electronics (pref), Samsung E&A,...

Douglas Kim

Price Gauge

52-week Range

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