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 19th. The aggregated holding was USD718.2bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,529mln. 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, Samsung Elec (PREF), HYBE, Kakao.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 19th. The aggregated holding was USD718.2bn.
We estimate that foreign flows to be inflows of USD2,529mln. 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, Samsung Elec (PREF), HYBE, Kakao.


KRX Foreign Holding Weekly (Sep 19th): Samsung Electronics, SK Hynix, Samsung Elec (PREF), HYBE

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Sep 5th. The aggregated holding was USD644.3bn.</li>
<li>We estimate that foreign flows to be inflows of USD33mln. 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 SK Hynix, Samsung Electronics, NAVER, HYUNDAI ROTEM, Mobis.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 5th. The aggregated holding was USD644.3bn.
We estimate that foreign flows to be inflows of USD33mln. 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 SK Hynix, Samsung Electronics, NAVER, HYUNDAI ROTEM, Mobis.


KRX Foreign Holding Weekly (Sep 5th): SK Hynix, Samsung Electronics, NAVER, HYUNDAI ROTEM, Mobis

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

HD Hyundai Heavy Industries  / Event-Driven

<ul>
<li>It was announced today that HD Hyundai Heavy Industries will merge with HD Hyundai Mipo. The merger ratio between HD Hyundai Heavy Industries and HD Hyundai Mipo is 1:0.4059146. </li>
<li>HD Korea Shipbuilding &amp; Offshore Engineering (009540 KS) will own a 66.29% stake in the merged entity.</li>
<li>HD KSOE is proceeding with this merger of its two major subsidiaries ahead of the full-scale launch of the MASGA ("Make America Shipbuilding Great Again") project.</li>
</ul>


It was announced today that HD Hyundai Heavy Industries will merge with HD Hyundai Mipo. The merger ratio between HD Hyundai Heavy Industries and HD Hyundai Mipo is 1:0.4059146. 
HD Korea Shipbuilding &amp; Offshore Engineering (009540 KS) will own a 66.29% stake in the merged entity.
HD KSOE is proceeding with this merger of its two major subsidiaries ahead of the full-scale launch of the MASGA ("Make America Shipbuilding Great Again") project.


A Merger Between HD Hyundai Heavy Industries and HD Hyundai Mipo

<ul>
<li>HD Hyundai Robotics will raise 200 billion won ($144 million) valuing the company at 1.8 trillion won.</li>
<li>Korea Development Bank and KY PE will be investing 200 billion won in HD Hyundai Robotics through a redeemable convertible preference shares in September.</li>
<li>Our NAV valuation analysis of HD Hyundai suggests target price of 168,561 won per share, which represents a 27% upside from current levels.</li>
</ul>


HD Hyundai Robotics will raise 200 billion won ($144 million) valuing the company at 1.8 trillion won.
Korea Development Bank and KY PE will be investing 200 billion won in HD Hyundai Robotics through a redeemable convertible preference shares in September.
Our NAV valuation analysis of HD Hyundai suggests target price of 168,561 won per share, which represents a 27% upside from current levels.


HD Hyundai Robotics Raises 200 Billion Won and NAV Analysis of HD Hyundai

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Aug 22nd. The aggregated holding was USD632.9bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,182mln. 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 SK Hynix, Samsung Electronics, Doosan Enerbility, Alteogen, Samyang Food.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Aug 22nd. The aggregated holding was USD632.9bn.
We estimate that foreign flows to be outflows of USD1,182mln. 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 SK Hynix, Samsung Electronics, Doosan Enerbility, Alteogen, Samyang Food.


KRX Foreign Holding Weekly (Aug 22nd): SK Hynix, Samsung Electronics, Doosan Enerbility, Alteogen

South Korea

HD Korea Shipbuilding & Offshore Engineering Co., Ltd. operates as a shipbuilding and offshore company. The Company provides industrial plant engineering, special and naval shipbuilding, marine engine and machinery, industrial machinery and energy services. HD Korea Shipbuilding & Offshore Engineering markets its products worldwide.

HD Korea Shipbuilding & Offshore Engineering (009540 KS)

HD Korea Shipbuilding & Offshore Engineering

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HD Korea Shipbuilding & Offshore Engineering (009540 KS)

KRX Foreign Holding Weekly (Sep 19th): Samsung Electronics, SK Hynix, Samsung Elec (PREF), HYBE

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

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Sep 5th): SK Hynix, Samsung Electronics, NAVER, HYUNDAI ROTEM, Mobis

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

Ke Yan, CFA, FRM

A Merger Between HD Hyundai Heavy Industries and HD Hyundai Mipo

It was announced today that HD Hyundai Heavy Industries will merge with HD Hyundai Mipo. The merger ratio between HD Hyundai Heavy Industries and...

Douglas Kim

HD Hyundai Robotics Raises 200 Billion Won and NAV Analysis of HD Hyundai

HD Hyundai Robotics will raise 200 billion won ($144 million) valuing the company at 1.8 trillion won. Korea Development Bank and KY PE will be...

Douglas Kim

KRX Foreign Holding Weekly (Aug 22nd): SK Hynix, Samsung Electronics, Doosan Enerbility, Alteogen

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

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)