Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Thematic (Sector/Industry)

<p>This insight provides a summary of the key news developments impacting the largest countries and constituents of the Global Emerging Markets equity indices. </p><p><strong><em>Companies mentioned this week:</em></strong></p><p><a href="https://www.smartkarma.com/entities/saudi-aramco" target="_blank" data-smartkarma-citation="entities:27317:1" rel="noopener">Saudi Aramco (ARAMCO AB)</a>, <a href="https://www.smartkarma.com/entities/hyundai-motor-co" target="_blank" data-smartkarma-citation="entities:155:1" rel="noopener">Hyundai Motor Co (005380 KS)</a>, GlobalFoundries, <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a>, <a href="https://www.smartkarma.com/entities/e-mart-inc" target="_blank" data-smartkarma-citation="entities:6993:1" rel="noopener">E Mart Inc (139480 KS)</a></p>

This insight provides a summary of the key news developments impacting the largest countries and constituents of the Global Emerging Markets equity indices. Companies mentioned this week:Saudi Aramco (ARAMCO AB), Hyundai Motor Co (005380 KS), GlobalFoundries, Samsung Electronics (005930 KS), E Mart Inc (139480 KS)

Global Emerging Markets Weekly: 25 June 2021

Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<p><a href="https://www.smartkarma.com/entities/hyundai-engineering-co-ltd" target="_blank" data-smartkarma-citation="entities:33008:1" rel="noopener">Hyundai Engineering Co Ltd (HEC KS)</a> finally embarks on an IPO.</p><div class="content-highlight"><p><a href="https://biz.chosun.com/site/data/html_dir/2021/04/13/2021041302338.html#:~:text=%ED%98%84%EB%8C%80%EC%97%94%EC%A7%80%EB%8B%88%EC%96%B4%EB%A7%81%EC%9D%98%20%EC%B5%9C%EB%8C%80%20%EC%A3%BC%EC%A3%BC,%EB%B3%B4%EC%9C%A0%ED%95%9C%202%EB%8C%80%20%EC%A3%BC%EC%A3%BC%EB%8B%A4.&amp;text=%ED%98%84%EB%8C%80%EC%97%94%EC%A7%80%EB%8B%88%EC%96%B4%EB%A7%81%EC%9D%B4%20%EC%83%81%EC%9E%A5%ED%95%98%EB%A9%B4,%EC%9C%A0%EC%9A%A9%ED%95%98%EA%B2%8C%20%EC%93%B0%EC%9D%BC%20%EC%88%98%20%EC%9E%88%EB%8B%A4." target="_blank" rel="noopener">Here is the news link. (Source: Chosun Biz)</a></p></div><p>Chung Eui-sun owns an 11.72% stake, while Hyundai E&amp;C retains the major shareholding at 38.62%.</p><p>The current OTC MC sits at ₩8T, giving a 1.11x Sales and a 30.92x OP on FY2020. The CES stake is valued at a little less than ₩1T.</p><p>The target IPO date is before the end of this year.</p><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="2" rowspan="1" data-sheets-value='{"1":2,"2":"Hyundai Engineering shareholding"}'>Hyundai Engineering shareholding</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Hyundai Engineering &amp; Construction Co."}' data-sheets-formula='=googlefinance(R[0]C[3], "name")'>Hyundai Engineering &amp; Construction Co.</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.3862}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>38.62%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Chung Eui-sun"}'>Chung Eui-sun</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.1172}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>11.72%</td>
</tr>
<tr><td colspan="2" rowspan="1" data-sheets-value='{"1":2,"2":"Source: Chosun Biz"}'>Source: Chosun Biz</td></tr>
</tbody>
</table><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="2" rowspan="1" data-sheets-value='{"1":2,"2":"Hyundai Engineering valuation (₩B)"}'>Hyundai Engineering valuation (₩B)</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"OTC MC"}'>OTC MC</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":8000}' data-sheets-numberformat='{"1":2,"2":"#,##0.0","3":1}'>8,000.0</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"x Sales"}'>x Sales</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1.112904123309777}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}' data-sheets-formula="=R[-1]C[0]/R[-7]C[3]">1.11</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"x OP"}'>x OP</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":30.923850019327407}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}' data-sheets-formula="=R[-2]C[0]/R[-7]C[3]">30.92</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Chung Eui-sun stake"}'>Chung Eui-sun stake (11.72%)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":937.6}' data-sheets-formula="=R[-3]C[0]*R[-22]C[0]">937.6</td>
</tr>
<tr><td colspan="2" rowspan="1" data-sheets-value='{"1":2,"2":"Source: 38 Communication"}'>Source: 38 Communication</td></tr>
</tbody>
</table><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Hyundai Engineering financials (₩B)"}'>Hyundai Engineering financials (₩B)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2017}'>2017</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2018}'>2018</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2019}'>2019</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2020}'>2020</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Sales"}'>Sales</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":6268.2}' data-sheets-numberformat='{"1":2,"2":"#,##0.0","3":1}'>6,268.2</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":6286.2}' data-sheets-numberformat='{"1":2,"2":"#,##0.0","3":1}'>6,286.2</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":6801.1}' data-sheets-numberformat='{"1":2,"2":"#,##0.0","3":1}'>6,801.1</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":7188.4}' data-sheets-numberformat='{"1":2,"2":"#,##0.0","3":1}'>7,188.4</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"OP"}'>OP</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":514.4}' data-sheets-numberformat='{"1":2,"2":"#,##0.0","3":1}'>514.4</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":453.7}' data-sheets-numberformat='{"1":2,"2":"#,##0.0","3":1}'>453.7</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":408.1}' data-sheets-numberformat='{"1":2,"2":"#,##0.0","3":1}'>408.1</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":258.7}' data-sheets-numberformat='{"1":2,"2":"#,##0.0","3":1}'>258.7</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - OPM"}'>- OPM</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.08206502664241729}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[-1]C[0]/R[-2]C[0]">8.21%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.07217396837517101}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[-1]C[0]/R[-2]C[0]">7.22%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.060004999191307286}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[-1]C[0]/R[-2]C[0]">6.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.03598853708752991}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[-1]C[0]/R[-2]C[0]">3.60%</td>
</tr>
<tr><td colspan="5" rowspan="1" data-sheets-value='{"1":2,"2":"Source: DART"}'>Source: DART</td></tr>
</tbody>
</table>

Hyundai Engineering Co Ltd (HEC KS) finally embarks on an IPO.Here is the news link. (Source: Chosun Biz)Chung Eui-sun owns an 11.72% stake, while Hyundai E&amp;C retains the major shareholding at 38.62%.The current OTC MC sits at ₩8T, giving a 1.11x Sales and a 30.92x OP on FY2020. The CES stake is valued at a little less than ₩1T.The target IPO date is before the end of this year.





Hyundai Engineering shareholding

Hyundai Engineering &amp; Construction Co.
38.62%


Chung Eui-sun
11.72%

Source: Chosun Biz







Hyundai Engineering valuation (₩B)

OTC MC
8,000.0


x Sales
1.11


x OP
30.92


Chung Eui-sun stake (11.72%)
937.6

Source: 38 Communication











Hyundai Engineering financials (₩B)
2017
2018
2019
2020


Sales
6,268.2
6,286.2
6,801.1
7,188.4


OP
514.4
453.7
408.1
258.7


- OPM
8.21%
7.22%
6.00%
3.60%

Source: DART



Potential Trades on HMG Stocks Amid Hyundai Eng IPO: Loan/Short Int Flow & 20D MA σ

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

Hyundai Engineering   / Equity Capital Markets

<div class="content-highlight">
<p><strong><a href="https://m.stock.naver.com/index.html#/news/ranknews/view/011/0003896445" target="_blank" rel="noopener">Hyundai Engineering Co</a> is starting its IPO process, which was noted by several local Korean media accounts today. The local media also has mentioned that the value of Hyundai Engineering Co (HEC) could be about 10 trillion won ($8.9 billion).</strong></p>
<p><a href="https://www.smartkarma.com/entities/hyundai-engineering-co-ltd" target="_blank" data-smartkarma-citation="entities:33008:1" rel="noopener">Hyundai Engineering Co Ltd (HEC KS)</a> is expected to complete its IPO by the end of 2021. It was reported on 13 April by the local media that Hyundai Engineering Co sent request for proposals (RFP) for IPO to the major domestic investment banks (including Mirae Asset Securities, Korea Investment &amp; Securities, NH Investment &amp; Securities, and other foreign banks) on 9 April. </p>
<p>A successful IPO of Hyundai Engineering Co could accelerate the restructuring of the entire Hyundai Motor Group. For example, given that the Hyundai Motor Group Chairman Chung Eui-Sun is the second largest shareholder of Hyundai Engineering Co, the IPO proceeds from this company could be used to further increase the ownership of <a href="https://www.smartkarma.com/entities/hyundai-mobis-co-ltd" target="_blank" data-smartkarma-citation="entities:6089:1" rel="noopener">Hyundai Mobis (012330 KS)</a> in the future.</p>
<p><em>Note: Hyundai Engineering Co (HEC) is a different company than <a href="https://www.smartkarma.com/entities/hyundai-engineering-const" target="_blank" data-smartkarma-citation="entities:4292:1" rel="noopener">Hyundai Engineering &amp; Const (000720 KS) (Hyundai E&amp;C)</a>. In this insight, the former company is mentioned as either HEC or Hyundai Engineering Co.</em> </p>
</div>


Hyundai Engineering Co is starting its IPO process, which was noted by several local Korean media accounts today. The local media also has mentioned that the value of Hyundai Engineering Co (HEC) could be about 10 trillion won ($8.9 billion).
Hyundai Engineering Co Ltd (HEC KS) is expected to complete its IPO by the end of 2021. It was reported on 13 April by the local media that Hyundai Engineering Co sent request for proposals (RFP) for IPO to the major domestic investment banks (including Mirae Asset Securities, Korea Investment &amp; Securities, NH Investment &amp; Securities, and other foreign banks) on 9 April. 
A successful IPO of Hyundai Engineering Co could accelerate the restructuring of the entire Hyundai Motor Group. For example, given that the Hyundai Motor Group Chairman Chung Eui-Sun is the second largest shareholder of Hyundai Engineering Co, the IPO proceeds from this company could be used to further increase the ownership of Hyundai Mobis (012330 KS) in the future.
Note: Hyundai Engineering Co (HEC) is a different company than Hyundai Engineering &amp; Const (000720 KS) (Hyundai E&amp;C). In this insight, the former company is mentioned as either HEC or Hyundai Engineering Co. 


Hyundai Engineering IPO Process Begins - A Key Catalyst for the Hyundai Motor Group Restructuring?

<p>What's going on at Hyundai Mobis (and Glovis)?</p><p>Once again, the same old rumor emerged in the local market yesterday.</p><div class="content-highlight"><h2><strong>Chung Eui-sun will sell 10% of his Glovis stake in block deals. Then, he will use the proceeds to buy Mobis shares.</strong></h2></div><p><strong>Why do we keep hearing this rumor?</strong></p><p>For this, we need to know the Korea FTC's intra-group transaction restrictions.</p><p>If the owner family's shareholding in a chaebol affiliate exceeds the threshold, the affiliate will become subject to the intra-group transaction restrictions.</p><p>A company under the intra-group transaction restrictions isn't allowed to exceed intra-group deals for more than ₩20B (or 12% of total sales).</p><p><strong>Currently, Hyundai Glovis is the problem within the Hyundai Motor Group. The intra-group deals account for 69.8% (₩9.8T) of the total revenue last year (₩14.5T).</strong></p><p>The shareholding threshold is 30% for listed companies and 20% for unlisted companies.</p><p>Glovis has been able to escape the restrictions as the Chung family (Chung Mong-koo and Chung Eui-sun combined) have slightly less than 30%.</p><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Hyundai Glovis"}'>Hyundai Glovis</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Shares"}' data-sheets-numberformat='{"1":4,"2":"[$₩-412]#,##0"}'>Shares</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"%"}'>%</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Value (₩B)"}'>Value (₩B)</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Chung Eui-sun"}'>Chung Eui-sun</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":8732290}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>8,732,290</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.2329}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>23.29%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1563.34125}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">1,563.3</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Den Norske Amerikalinje AS"}'>Den Norske Amerikalinje AS</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":4125000}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>4,125,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.11}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>11.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":738.375}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">738.4</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Chung Mong-koo"}'>Chung Mong-koo</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2517701}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>2,517,701</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0671}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>6.71%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":450.40875000000005}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">450.4</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Hyundai Motor"}'>Hyundai Motor</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1830939}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>1,830,939</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0488}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>4.88%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":327.57}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">327.6</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"HM CMK Foundation"}'>HM CMK Foundation</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1671018}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>1,671,018</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0446}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>4.46%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":299.3775}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">299.4</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Chung Eui-sun+Chung Mong-koo"}'><strong>Chung Eui-sun+Chung Mong-koo</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":11249991}' data-sheets-numberformat='{"1":2,"2":"#,##0"}' data-sheets-formula="=R[-3]C[0]+R[-5]C[0]"><strong>11,249,991</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.2999}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'><strong>29.99%</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2013.07875}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5"><strong>2,013.1</strong></td>
</tr>
<tr><td colspan="4" rowspan="1" data-sheets-value='{"1":2,"2":"Source: FnGuide"}'>Source: FnGuide</td></tr>
</tbody>
</table><p>But starting next year, the threshold for listed companies will also become 20%.</p><p>This is exactly why we keep hearing this rumor because Chung Eui-sun has to reduce his stake by 10%p so that the family-owned combined stake falls below 20%.</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/625/original/image?1617927547" class="editor-image img-responsive" data-smartkarma-image-id="199625"></figure>

What's going on at Hyundai Mobis (and Glovis)?Once again, the same old rumor emerged in the local market yesterday.Chung Eui-sun will sell 10% of his Glovis stake in block deals. Then, he will use the proceeds to buy Mobis shares.Why do we keep hearing this rumor?For this, we need to know the Korea FTC's intra-group transaction restrictions.If the owner family's shareholding in a chaebol affiliate exceeds the threshold, the affiliate will become subject to the intra-group transaction restrictions.A company under the intra-group transaction restrictions isn't allowed to exceed intra-group deals for more than ₩20B (or 12% of total sales).Currently, Hyundai Glovis is the problem within the Hyundai Motor Group. The intra-group deals account for 69.8% (₩9.8T) of the total revenue last year (₩14.5T).The shareholding threshold is 30% for listed companies and 20% for unlisted companies.Glovis has been able to escape the restrictions as the Chung family (Chung Mong-koo and Chung Eui-sun combined) have slightly less than 30%.








Hyundai Glovis
Shares
%
Value (₩B)


Chung Eui-sun
8,732,290
23.29%
1,563.3


Den Norske Amerikalinje AS
4,125,000
11.00%
738.4


Chung Mong-koo
2,517,701
6.71%
450.4


Hyundai Motor
1,830,939
4.88%
327.6


HM CMK Foundation
1,671,018
4.46%
299.4


Chung Eui-sun+Chung Mong-koo
11,249,991
29.99%
2,013.1

Source: FnGuide

But starting next year, the threshold for listed companies will also become 20%.This is exactly why we keep hearing this rumor because Chung Eui-sun has to reduce his stake by 10%p so that the family-owned combined stake falls below 20%.

Glovis Block Deals by Chung & Buy Mobis Shares: Unlikely to Happen

<div class="content-highlight"><p><a href="https://www.smartkarma.com/entities/kia-motors-corp" target="_blank" data-smartkarma-citation="entities:156:1" rel="noopener">Kia Motors Corp (000270 KS)</a> shares increased 9.7% on 3 February to 97,700 won. Kia Motor's stock price has risen 57% YTD. Kia Motors' market share has climbed to 39.6 trillion won ($35.6 billion).<strong> It has been reported in the local media that <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple Inc (AAPL US)</a> plans to invest 4 trillion won ($3.6 billion) as a part of a collaboration with Kia Motors on making electric vehicles. </strong></p></div>

Kia Motors Corp (000270 KS) shares increased 9.7% on 3 February to 97,700 won. Kia Motor's stock price has risen 57% YTD. Kia Motors' market share has climbed to 39.6 trillion won ($35.6 billion). It has been reported in the local media that Apple Inc (AAPL US) plans to invest 4 trillion won ($3.6 billion) as a part of a collaboration with Kia Motors on making electric vehicles. 

Apple to Invest $3.6 Billion in Kia Motors: HMC Group Has Come a Long Way from the Sir Charles Ads

South Korea

Hyundai Glovis Co., Ltd. provides domestic and international logistic services. The Company's services include domestic transportation, storage, packaging, vehicle logistic, and logistic consulting.  GLOVIS also runs automobile auction market for used vehicle.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Hyundai Glovis (086280 KS)

Global Emerging Markets Weekly: 25 June 2021

This insight provides a summary of the key news developments impacting the largest countries and constituents of the Global Emerging Markets equity...

Wium Malan, CFA

Potential Trades on HMG Stocks Amid Hyundai Eng IPO: Loan/Short Int Flow & 20D MA σ

Hyundai Eng begins an IPO process, which should be a group-wide restructuring triggering momentum. This post looks into potential trades on the...

Sanghyun Park

Hyundai Engineering IPO Process Begins - A Key Catalyst for the Hyundai Motor Group Restructuring?

Hyundai Engineering Co (HEC) has started its IPO process and the IPO is expected to be completed by end of this year. The IPO of HEC could...

Douglas Kim

Glovis Block Deals by Chung & Buy Mobis Shares: Unlikely to Happen

This post examines the Glovis block deals rumor by the Chung family and explains why it is unlikely to happen given the HMG restructuring dynamics.

Sanghyun Park

Apple to Invest $3.6 Billion in Kia Motors: HMC Group Has Come a Long Way from the Sir Charles Ads

It has been reported in the local media that Apple Inc (AAPL US) plans to invest 4 trillion won ($3.6 billion) as a part of a collaboration with...

Douglas Kim

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