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 Nov 28th. The aggregated holding was USD803.0bn.</li>
<li>We estimate that foreign flows to be outflows of USD5,160mln. 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 BIOLOGICS, Samsung Electronics, NAVER, HD HYUNDAI HEAVY INDUSTRIES, KEPCO.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Nov 28th. The aggregated holding was USD803.0bn.
We estimate that foreign flows to be outflows of USD5,160mln. 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 BIOLOGICS, Samsung Electronics, NAVER, HD HYUNDAI HEAVY INDUSTRIES, KEPCO.


KRX Foreign Holding Weekly (Nov 28th): SAMSUNG BIOLOGICS, Samsung Electronics, NAVER

Founder/CEO of ROK Advisory, ROK Advisory LLC

Ken S. Kim

Founder/CEO of ROK Advisory

ROK Advisory LLC

ROK is an independent research advisory firm. We guide you to minimize the information gap between foreign and local investors in Northeast Asia with a focus in Korea, Taiwan and Japan.

Independent Research Advisory Firm

Equity Bottom-Up

<ul>
<li>Change in local limit is a positive for <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> </li>
<li>Those in the local markets had to play <a href="https://www.smartkarma.com/entities/sk-square-co-ltd" target="_blank" data-smartkarma-citation="entities:35264:1" rel="noopener">SK Square (402340 KS)</a> before</li>
<li>The risk is that over 1/3 of KOSPI 200 is now reliant on 2 names</li>
</ul>


Change in local limit is a positive for SK Hynix (000660 KS) 
Those in the local markets had to play SK Square (402340 KS) before
The risk is that over 1/3 of KOSPI 200 is now reliant on 2 names


SK Hynix Should Continue to Benefit from Local Flow.

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
<li>Welcome to Curator’s Cut — a fortnightly roundup of standout themes from the 1,000+ insights shared on Smartkarma. After a brief one-issue break, we’re back with fresh perspectives.</li>
<li>In this cut, we explore Japan’s renewed defense ambitions, Asia’s eyewear evolution, and US diagnostics' next frontiers.</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next</li>
</ul>


Welcome to Curator’s Cut — a fortnightly roundup of standout themes from the 1,000+ insights shared on Smartkarma. After a brief one-issue break, we’re back with fresh perspectives.
In this cut, we explore Japan’s renewed defense ambitions, Asia’s eyewear evolution, and US diagnostics' next frontiers.
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next


Curator's Cut: Japan's Defense Drive, Asia's Vision Opportunities & US Diagnostics Picks

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>Palliser Capital started to go activist on LG Chem.  According to Palliser Capital, LG Chem's share price is trading at a 74% discount to its NAV.</li>
<li>Palliser Capital proposed improving the composition of the board of directors, restructuring the executive compensation system to align with shareholder interests, and higher share buybacks. </li>
<li>Our updated NAV analysis of LG Chem suggests implied price of 613,438 won per share, which represents a 57% higher levels than current levels.</li>
</ul>


Palliser Capital started to go activist on LG Chem.  According to Palliser Capital, LG Chem's share price is trading at a 74% discount to its NAV.
Palliser Capital proposed improving the composition of the board of directors, restructuring the executive compensation system to align with shareholder interests, and higher share buybacks. 
Our updated NAV analysis of LG Chem suggests implied price of 613,438 won per share, which represents a 57% higher levels than current levels.


Palliser Capital Goes Activist on LG Chem

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.

HD Korea Shipbuilding & Offshore Engineering / Event-Driven

HD Korea Shipbuilding & Offshore Engineering

<ul>
<li>Market sniffing policy push; low-float names flagged as junk risk with skewed control. Desks circling, Palliser hit early—LG Chem trade popped, timing spot on.</li>
<li>Trade setup: screen &gt;₩1tn caps with low float, parent stakes 60–80%. Policy push likely forces stake cuts, driving float higher and squeezing NAV discounts—LG Chem shows the play.</li>
<li>Screening &gt;₩1tn caps flags 11 names: parents hold 60–80%. All potential stake-sale plays to boost float, squeeze NAV discount.</li>
</ul>


Market sniffing policy push; low-float names flagged as junk risk with skewed control. Desks circling, Palliser hit early—LG Chem trade popped, timing spot on.
Trade setup: screen &gt;₩1tn caps with low float, parent stakes 60–80%. Policy push likely forces stake cuts, driving float higher and squeezing NAV discounts—LG Chem shows the play.
Screening &gt;₩1tn caps flags 11 names: parents hold 60–80%. All potential stake-sale plays to boost float, squeeze NAV discount.


Korea’s Next Policy Play: NAV Discount Squeeze on Low‑Float Large Caps

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.

Price Gauge
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Samsung C&T (028260 KS)

KRX Foreign Holding Weekly (Nov 28th): SAMSUNG BIOLOGICS, Samsung Electronics, NAVER

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SAMSUNG BIOLOGICS, Samsung Electronics, NAVER, HD...

Ke Yan, CFA, FRM

SK Hynix Should Continue to Benefit from Local Flow.

SK Hynix should be aided by local domestic flows as they are now exempt from 10% rule for local asset managers in Korea public equities.

Ken S. Kim

Curator's Cut: Japan's Defense Drive, Asia's Vision Opportunities & US Diagnostics Picks

Curator's Cut highlights Japan's defense ambitions, Asia's eyewear evolution, and US diagnostics' advancements. Share your thoughts on future...

Pranav Rao

Palliser Capital Goes Activist on LG Chem

Palliser Capital started to go activist on LG Chem. According to Palliser Capital, LG Chem's share price is trading at a 74% discount to its NAV.

Douglas Kim

Korea’s Next Policy Play: NAV Discount Squeeze on Low‑Float Large Caps

This post lays out a live watchlist for NAV discount traders as Korea’s policy narrative shifts to low‑float large caps.

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

KRX Foreign Holding Weekly (Nov 28th): SAMSUNG BIOLOGICS, Samsung Electronics, NAVER

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SAMSUNG BIOLOGICS, Samsung Electronics, NAVER, HD...

Ke Yan, CFA, FRM

SK Hynix Should Continue to Benefit from Local Flow.

SK Hynix should be aided by local domestic flows as they are now exempt from 10% rule for local asset managers in Korea public equities.

Ken S. Kim

Curator's Cut: Japan's Defense Drive, Asia's Vision Opportunities & US Diagnostics Picks

​Curator's Cut highlights Japan's defense ambitions, Asia's eyewear evolution, and US diagnostics' advancements. Share your thoughts on future...

Pranav Rao

Palliser Capital Goes Activist on LG Chem

Palliser Capital started to go activist on LG Chem. According to Palliser Capital, LG Chem's share price is trading at a 74% discount to its NAV.

Douglas Kim

Korea’s Next Policy Play: NAV Discount Squeeze on Low‑Float Large Caps

This post lays out a live watchlist for NAV discount traders as Korea’s policy narrative shifts to low‑float large caps.

Sanghyun Park

Curator's Cut highlights Japan's defense ambitions, Asia's eyewear evolution, and US diagnostics' advancements. Share your thoughts on future...