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.

Equity Capital Markets

<ul>
<li>Wild card here is the FSS—they’re eyeing a shadow listing risk for DN Automotive (007340 KS). If they push for a revision, a 2-week delay busts the 135-day limit.</li>
<li>14x PE looks cheap, but comps are shaky—LS Electric’s AI play, Fanuc’s scale advantage, and DMG MORI’s automation pivot all make direct comparisons a stretch.</li>
<li>DN Solutions is a pure-play machine tool name, making comps shaky. This IPO’s shaping up like an LG CNS rerun—solid numbers, fair valuation, but a weak growth story.</li>
</ul>


Wild card here is the FSS—they’re eyeing a shadow listing risk for DN Automotive (007340 KS). If they push for a revision, a 2-week delay busts the 135-day limit.
14x PE looks cheap, but comps are shaky—LS Electric’s AI play, Fanuc’s scale advantage, and DMG MORI’s automation pivot all make direct comparisons a stretch.
DN Solutions is a pure-play machine tool name, making comps shaky. This IPO’s shaping up like an LG CNS rerun—solid numbers, fair valuation, but a weak growth story.


DN Solutions IPO: OC’s Out, but the Hit-And-Run Setup Post-Listing Is Still in Play

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>DN Solutions is getting ready to complete its IPO in Korea in May 2025. The IPO price range is from 65,000 won to 89,700 won.</li>
<li>The book building for the institutional investors will last from 22 to 28 April. The expected IPO offering amount is from 1.14 trillion won to 1.57 trillion won.</li>
<li>The IPO price range is based on DN Solutions' net profit of 317.4 billion won, P/E of 25.2x, and IPO discount rates of 29.1% to 48.6%.</li>
</ul>


DN Solutions is getting ready to complete its IPO in Korea in May 2025. The IPO price range is from 65,000 won to 89,700 won.
The book building for the institutional investors will last from 22 to 28 April. The expected IPO offering amount is from 1.14 trillion won to 1.57 trillion won.
The IPO price range is based on DN Solutions' net profit of 317.4 billion won, P/E of 25.2x, and IPO discount rates of 29.1% to 48.6%.


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DN Solutions (298440 KS)

DN Solutions IPO: OC’s Out, but the Hit-And-Run Setup Post-Listing Is Still in Play

This post explores key trading angles in the DN Solutions IPO—OC's out, but the hit-and-run play post-listing is still in focus.

Sanghyun Park

DN Solutions IPO Preview

DN Solutions is getting ready to complete its IPO in Korea in May 2025. DN Solutions is expected to be one of the largest IPOs in Korea in 2025....

Douglas Kim

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