Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>Makus Inc (093520 KS) is a textbook case study in Korea of how improving shareholder value leads to surging share price. Its example is simple and beautiful.</li>
<li>Makus announced that it will cancel a total of 6 million treasury shares (37% of outstanding shares) in the next three years  until 2027 to increase shareholder value. </li>
<li>Applying a 15x P/E on EPS of 2,788 won (2027E) results in implied target price of 41,820 won per share, which would be a 67% further upside from current levels.</li>
</ul>


Makus Inc (093520 KS) is a textbook case study in Korea of how improving shareholder value leads to surging share price. Its example is simple and beautiful.
Makus announced that it will cancel a total of 6 million treasury shares (37% of outstanding shares) in the next three years  until 2027 to increase shareholder value. 
Applying a 15x P/E on EPS of 2,788 won (2027E) results in implied target price of 41,820 won per share, which would be a 67% further upside from current levels.


Makus: A Textbook Case Study of How Improving Shareholder Value Leads to Surging Share Price

Equity Bottom-Up

<ul>
<li>Makus is #34 in our Korea Small Cap Gem series. Its treasury shares as  percentage of outstanding shares is 44%. Net cash as a percent of market cap is 78%.</li>
<li>With greater interest in companies that have a combination of high levels of treasury shares as a percentage of market cap, cheap valuations, and excellent fundamentals, Makus fits the bill.</li>
<li>Makus could be one of the targets for potential tender offers/M&amp;As and likely to outperform the market in the next 1-2 years. </li>
</ul>


Makus is #34 in our Korea Small Cap Gem series. Its treasury shares as  percentage of outstanding shares is 44%. Net cash as a percent of market cap is 78%.
With greater interest in companies that have a combination of high levels of treasury shares as a percentage of market cap, cheap valuations, and excellent fundamentals, Makus fits the bill.
Makus could be one of the targets for potential tender offers/M&amp;As and likely to outperform the market in the next 1-2 years. 


M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

Bringing the marketplace leading coverage of mergers, events, and major corporate actions, CTFN has a team of seasoned reporters from Los Angeles to London, publishing news that advances stories that matter to event-driven investors and deal professionals.

<p>If remedies are necessary to safeguard Intersil’s facility in Palm Bay, Florida, where it manufactures chips for defense purposes, regulators including the Committee on Foreign Investment in the United States and the Defense Security Service are likely to take between three months to a year to decide the site’s fate, two sector lawyers told CTFN.</p>

If remedies are necessary to safeguard Intersil’s facility in Palm Bay, Florida, where it manufactures chips for defense purposes, regulators including the Committee on Foreign Investment in the United States and the Defense Security Service are likely to take between three months to a year to decide the site’s fate, two sector lawyers told CTFN.

Regulators Could Take a Year to Decide Renesas/Intersil Remedies

United States

Intersil Corporation designs and manufactures high performance analog semiconductors.  The Company's products are used in flat panel displays, optical storage, and power management applications.

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Intersil Corp A (ISIL US)

Korea Small Cap Gem #34: Makus

With greater interest in companies that have a combination of high levels of treasury shares as a percentage of market cap, cheap valuations, and...

Douglas Kim

Regulators Could Take a Year to Decide Renesas/Intersil Remedies

If remedies are necessary to safeguard Intersil’s facility in Palm Bay, Florida, where it manufactures chips for defense purposes, regulators...

CTFN

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Makus: A Textbook Case Study of How Improving Shareholder Value Leads to Surging Share Price

Makus announced that it will cancel a total of 6 million treasury shares (37% of outstanding shares) in the next three years until 2027 to...

Douglas Kim

Korea Small Cap Gem #34: Makus

With greater interest in companies that have a combination of high levels of treasury shares as a percentage of market cap, cheap valuations, and...

Douglas Kim

Regulators Could Take a Year to Decide Renesas/Intersil Remedies

If remedies are necessary to safeguard Intersil’s facility in Palm Bay, Florida, where it manufactures chips for defense purposes, regulators...

CTFN