Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>NPS has filed a lawsuit against Samsung Group Chairman Lee Jae-Yong and others involved in the merger of Samsung C&amp;T (028260 KS) and Cheil Industries nearly nine years ago.</li>
<li>NPS is trying to recover damages estimated at up to 675 billion won. </li>
<li>If NPS is able to win in this lawsuit, it could result in other minority shareholders launching their own lawsuits which could further raise concerns on Samsung C&amp;T. </li>
</ul>


NPS has filed a lawsuit against Samsung Group Chairman Lee Jae-Yong and others involved in the merger of Samsung C&amp;T (028260 KS) and Cheil Industries nearly nine years ago.
NPS is trying to recover damages estimated at up to 675 billion won. 
If NPS is able to win in this lawsuit, it could result in other minority shareholders launching their own lawsuits which could further raise concerns on Samsung C&amp;T. 


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 foreign holdings of KRX stocks as of Sep 20th which has an aggregated holding worth USD544.0bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,602mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Alteogen, Samsung Electronics, Sk Hynix.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 20th which has an aggregated holding worth USD544.0bn.
We estimate that foreign flows to be outflows of USD1,602mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Alteogen, Samsung Electronics, Sk Hynix.


KRX Foreign Holding Weekly (Sep 20th): Alteogen, Samsung Electronics, Sk Hynix

Cross Asset Strategy

<ul>
<li>The Korea Exchange is expected to announce its long awaited KRX Korea Value-Up index on 24 September. However, the actual launch of this index will begin on 30 September.</li>
<li>It is expected to produce two types of indices including a basic price index (PR) and a total return index (TR) under the name of KRX Korea Value-Up index.</li>
<li>In this insight, we also provide a list of 20 small cap stocks that could be included in the Korea Value Up index.</li>
</ul>


The Korea Exchange is expected to announce its long awaited KRX Korea Value-Up index on 24 September. However, the actual launch of this index will begin on 30 September.
It is expected to produce two types of indices including a basic price index (PR) and a total return index (TR) under the name of KRX Korea Value-Up index.
In this insight, we also provide a list of 20 small cap stocks that could be included in the Korea Value Up index.


Announcement of Value-Up Index in Korea on 24 September

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Sep 13th which has an aggregated holding worth USD544.5bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,610mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Samsung Electronics, Sk Hynix.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 13th which has an aggregated holding worth USD544.5bn.
We estimate that foreign flows to be outflows of USD1,610mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Samsung Electronics, Sk Hynix.


KRX Foreign Holding Weekly (Sep 13th): Samsung Electronics, Sk Hynix

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Samsung Electronics Pref Shares / Event-Driven

<ul>
<li>Samsung's preferred shares lagged significantly behind the common shares yesterday, showing the largest daily sigma move we've seen in a while.</li>
<li>Samsung’s delayed value-up announcement, despite regulatory pressure, has fueled speculation about a potential Biologics stake purchase from C&amp;T.</li>
<li>It's time to pause the trade on Samsung’s preferred discount narrowing that I highlighted in early August. The main inflection point will be when Samsung makes its value-up announcement.</li>
</ul>


Samsung's preferred shares lagged significantly behind the common shares yesterday, showing the largest daily sigma move we've seen in a while.
Samsung’s delayed value-up announcement, despite regulatory pressure, has fueled speculation about a potential Biologics stake purchase from C&amp;T.
It's time to pause the trade on Samsung’s preferred discount narrowing that I highlighted in early August. The main inflection point will be when Samsung makes its value-up announcement.


Exploring Why Samsung Electronics' Pref Discount Narrowing Took a Sharp Turn Yesterday

South Korea

Samsung C&T Corporation conducts diversified business support services and resort operation activities. The Company offers a range of services in areas including clothing retail, construction, energy, real estate, food service, and resort accommodations. Samsung C&T also operates a resort with amusement rides, a zoo, water park, golf clubs, and restaurants.

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Samsung C&T (028260 KS)

NPS Sues Samsung's Lee Jae-Yong

NPS has filed a lawsuit against Samsung Group Chairman Lee Jae-Yong and others involved in the merger of Samsung C&T (028260 KS) and Cheil...

Douglas Kim

KRX Foreign Holding Weekly (Sep 20th): Alteogen, Samsung Electronics, Sk Hynix

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Alteogen, Samsung Electronics, Sk Hynix.

Ke Yan, CFA, FRM

Announcement of Value-Up Index in Korea on 24 September

The Korea Exchange is expected to announce its long awaited KRX Korea Value-Up index on 24 September. We also provide a list of 20 small cap stocks...

Douglas Kim

KRX Foreign Holding Weekly (Sep 13th): Samsung Electronics, Sk Hynix

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, Sk Hynix.

Ke Yan, CFA, FRM

Exploring Why Samsung Electronics' Pref Discount Narrowing Took a Sharp Turn Yesterday

This post explores what might have caused the sudden shift in the narrowing of Samsung Electronics' preferred share discount yesterday.

Sanghyun Park

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