Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET).</li>
<li>I believe this will have a negative impact on SK Innovation and a neutral impact on SK IET.</li>
<li>The biggest concern is the fact that SK IET has been generating continued net losses in the past several years and this could negatively impact SK Innovations' financial structure. </li>
</ul>


On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET).
I believe this will have a negative impact on SK Innovation and a neutral impact on SK IET.
The biggest concern is the fact that SK IET has been generating continued net losses in the past several years and this could negatively impact SK Innovations' financial structure. 


SK Innovation Announces a Merger With SK IET (Before New Regulation Kicks In)

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>
Overseas: SPX -1.5%; Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains. FedEx's disappointing outlook contributed to the index’s worst day since September.</li>
<li>
Today: NKY Futs -1.9% v cash. JPY143; Yamaha Motors faces slowdown in US; Toyota recall; Chugoku to sell excess Uranium</li>
<li>
Japan: Panasonic walked away from Oklahoma's $698M battery offer, sparking concerns over megaproject subsidies and corporate gamesmanship.</li>
</ul>



Overseas: SPX -1.5%; Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains. FedEx's disappointing outlook contributed to the index’s worst day since September.

Today: NKY Futs -1.9% v cash. JPY143; Yamaha Motors faces slowdown in US; Toyota recall; Chugoku to sell excess Uranium

Japan: Panasonic walked away from Oklahoma's $698M battery offer, sparking concerns over megaproject subsidies and corporate gamesmanship.


Ohayo Japan | Market Retreat Intensifies; Panasonic Plays the States

<ul>
<li>Market Watch: Topix ended the week unchanged. The yen was the bigger story after strengthening to Y147/$. Forex likely to dominate next week</li>
<li>Major Movers: CyberAgent was boosted by the release of a new #1 smartphone game; Panasonic gains after announcing potential restructuring of group assets</li>
<li>Activist Watch: Dalton’s Nippon Active Value fund has found a deep value, small-cap pharma company. Rheos Capital takes a significant stake in a fast-growing M&amp;A advisor</li>
</ul>


Market Watch: Topix ended the week unchanged. The yen was the bigger story after strengthening to Y147/$. Forex likely to dominate next week
Major Movers: CyberAgent was boosted by the release of a new #1 smartphone game; Panasonic gains after announcing potential restructuring of group assets
Activist Watch: Dalton’s Nippon Active Value fund has found a deep value, small-cap pharma company. Rheos Capital takes a significant stake in a fast-growing M&amp;A advisor


Japan Weekly | All About Yen; Panasonic, Cyberagent

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.

Equity Capital Markets

Qingtao KUNSHAN ENERGY DEVELOPMENT / Equity Capital Markets

Qingtao KUNSHAN ENERGY DEVELOPMENT (2648330D HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/qingtao-kunshan-energy-development" target="_blank" data-smartkarma-citation="entities:48116:1" rel="noopener">Qingtao KUNSHAN ENERGY DEVELOPMENT</a> (QEDG) plans to raise around US$900m in its upcoming Hong Kong IPO.</li>
<li>QEDG manufactures solid-liquid hybrid and all solid-state batteries for electric vehicle (EV) and energy storage system (ESS) applications.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Qingtao KUNSHAN ENERGY DEVELOPMENT (QEDG) plans to raise around US$900m in its upcoming Hong Kong IPO.
QEDG manufactures solid-liquid hybrid and all solid-state batteries for electric vehicle (EV) and energy storage system (ESS) applications.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: Qingtao Energy Development Group Pre-IPO - Solid Lead but Others Planning to Enter

<ul>
<li>
OVERSEAS. US Yields spike to hit 16 year high; Stocks rise SPX closed +0.7% with Tech leading; China woes continue as forecasts cut; NVDIA and TSLA rebound on street optimism</li>
<li>
JAPAN.  NKY Futures +0.7% vs Cash; USDJPY 146.2;  BOJ on pace to buy record amt of bonds under new YCC regime;  Foreigners unloading JGBs; Japan DX market &gt; 2trn yen</li>
<li>
Japan X.  Flying Cars - investments pouring into the space globally. Skydrive, Japan's Flying Car beacon bearer, partners with Suzuki to to push the boundries in the space.  </li>
</ul>



OVERSEAS. US Yields spike to hit 16 year high; Stocks rise SPX closed +0.7% with Tech leading; China woes continue as forecasts cut; NVDIA and TSLA rebound on street optimism

JAPAN.  NKY Futures +0.7% vs Cash; USDJPY 146.2;  BOJ on pace to buy record amt of bonds under new YCC regime;  Foreigners unloading JGBs; Japan DX market &gt; 2trn yen

Japan X.  Flying Cars - investments pouring into the space globally. Skydrive, Japan's Flying Car beacon bearer, partners with Suzuki to to push the boundries in the space.  


Ohayo Japan|Yields Spike and Stocks UP?! Japan X: Flying Cars-Suzuki and SkyDrive's Aerial Ambitions

Japan

Panasonic Corporation manufactures electric and electronic products. The Company produces home appliances, car navigation systems, digital devices, computer peripherals, telecommunications, industrial equipment, and electronic parts. Panasonic has associated companies around the world.

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Panasonic Corp (6752 JP)

SK Innovation Announces a Merger With SK IET (Before New Regulation Kicks In)

On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET). I believe this will have a negative impact...

Douglas Kim

Ohayo Japan | Market Retreat Intensifies; Panasonic Plays the States

Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains, with FedEx's disappointing outlook contributing to the...

Mark Chadwick

Japan Weekly | All About Yen; Panasonic, Cyberagent

Market Watch: Topix unchanged, yen strengthens. CyberAgent boosted by new smartphone game, Panasonic gains on potential restructuring. Activist...

Mark Chadwick

Aequitas: Qingtao Energy Development Group Pre-IPO - Solid Lead but Others Planning to Enter

Qingtao Kunshan Energy Development (QEDG) plans to raise around US$900m in its upcoming Hong Kong IPO. In this note, we look at the company's past...

Sumeet Singh

Ohayo Japan|Yields Spike and Stocks UP?! Japan X: Flying Cars-Suzuki and SkyDrive's Aerial Ambitions

Yields Spike and Stocks Up?! Huh? NKY Futures +0.7% vs Cash; USDJPY 146.2; BOJ on pace to buy record amt of bonds under new YCC regime; ...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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SK Innovation Announces a Merger With SK IET (Before New Regulation Kicks In)

On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET). I believe this will have a negative impact...

Douglas Kim

Ohayo Japan | Market Retreat Intensifies; Panasonic Plays the States

​Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains, with FedEx's disappointing outlook contributing to the...

Mark Chadwick

Japan Weekly | All About Yen; Panasonic, Cyberagent

​Market Watch: Topix unchanged, yen strengthens. CyberAgent boosted by new smartphone game, Panasonic gains on potential restructuring. Activist...

Mark Chadwick

Aequitas: Qingtao Energy Development Group Pre-IPO - Solid Lead but Others Planning to Enter

Qingtao Kunshan Energy Development (QEDG) plans to raise around US$900m in its upcoming Hong Kong IPO. In this note, we look at the company's past...

Sumeet Singh

Ohayo Japan|Yields Spike and Stocks UP?! Japan X: Flying Cars-Suzuki and SkyDrive's Aerial Ambitions

Yields Spike and Stocks Up?! Huh? NKY Futures +0.7% vs Cash; USDJPY 146.2; BOJ on pace to buy record amt of bonds under new YCC regime; ...

Mark Chadwick

Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains, with FedEx's disappointing outlook contributing to the...

Market Watch: Topix unchanged, yen strengthens. CyberAgent boosted by new smartphone game, Panasonic gains on potential restructuring. Activist...