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 short interest of KRX stocks as of Aug 8th. The aggregated short interest was USD10.0bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 8th. The aggregated short interest was USD10.0bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M.


KRX Short Interest Weekly (Aug 8th): Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/kolon-corp" target="_blank" data-smartkarma-citation="entities:9914:1" rel="noopener">Kolon Corp (002020 KS)</a></strong>(KC) is seeking to delist 75.23%-held <a href="https://www.smartkarma.com/entities/kolon-mobility-group" target="_blank" data-smartkarma-citation="entities:45648:1" rel="noopener"><strong>Kolon Mobility Group (450140 KS</strong>)</a> (KM), an auto importer.</li>
<li>Via a dual approach, KC is offering ₩4,000 per KM common share and ₩5,950 per KM preferred share. Any untendered shares will be swapped into KC shares.</li>
<li>The tender offer period is from 8th August to 8th September, with payment on the 10th September. There is no minimum acceptance condition.</li>
</ul>



Kolon Corp (002020 KS)(KC) is seeking to delist 75.23%-held Kolon Mobility Group (450140 KS) (KM), an auto importer.
Via a dual approach, KC is offering ₩4,000 per KM common share and ₩5,950 per KM preferred share. Any untendered shares will be swapped into KC shares.
The tender offer period is from 8th August to 8th September, with payment on the 10th September. There is no minimum acceptance condition.


Kolon Mobility (450140 KS)'s Delisting Offer

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>We discuss the end of the mandatory lock-up periods for 39 stocks in Korea in October 2024, among which four are in KOSPI and 35 are in KOSDAQ.</li>
<li>These 39 stocks on average could be subject to further selling pressures in October and could underperform relative to the market.</li>
<li>The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in October are Korea Zinc, Doosan Robotics, and Kolon TissueGene. </li>
</ul>


We discuss the end of the mandatory lock-up periods for 39 stocks in Korea in October 2024, among which four are in KOSPI and 35 are in KOSDAQ.
These 39 stocks on average could be subject to further selling pressures in October and could underperform relative to the market.
The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in October are Korea Zinc, Doosan Robotics, and Kolon TissueGene. 


End of Mandatory Lock-Up Periods for 39 Companies in Korea in October 2024

<ul>
<li>We discuss the end of the mandatory lock-up periods for 54 stocks in Korea in May 2024, among which 4 are in KOSPI and 50 are in KOSDAQ.</li>
<li>These 54 stocks on average could be subject to further selling pressures in May and could underperform relative to the market.</li>
<li>The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in May include EcoPro Materials, Enchem, and Gaonchips. </li>
</ul>


We discuss the end of the mandatory lock-up periods for 54 stocks in Korea in May 2024, among which 4 are in KOSPI and 50 are in KOSDAQ.
These 54 stocks on average could be subject to further selling pressures in May and could underperform relative to the market.
The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in May include EcoPro Materials, Enchem, and Gaonchips. 


End of Mandatory Lock-Up Periods for 54 Companies in Korea in May 2024

<ul>
<li>In this insight, we discuss the potential KOSDAQ150 rebalance candidates in June 2024.</li>
<li>The following companies are likely candidates to be included in KOSDAQ150 rebalance in June 2024, including LS Materials, Gigavis, and Cafe24 Corp. </li>
<li>We also provide a list of 10 companies that are potential exclusion candidates from KOSDAQ150 rebalance in June 2024.</li>
</ul>


In this insight, we discuss the potential KOSDAQ150 rebalance candidates in June 2024.
The following companies are likely candidates to be included in KOSDAQ150 rebalance in June 2024, including LS Materials, Gigavis, and Cafe24 Corp. 
We also provide a list of 10 companies that are potential exclusion candidates from KOSDAQ150 rebalance in June 2024.


An Early Look at the Potential KOSDAQ150 Rebalance Candidates in June 2024

United States

Kolon TissueGene, Inc. operates as a biopharmaceutical company. The Company develops novel advanced orthopedic disorders cell therapies, novel cell and gene therapies drugs, and other related products. Kolon TissueGene offers services worldwide.

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Kolon TissueGene (950160 KS)

KRX Short Interest Weekly (Aug 8th): Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M

We analyzed KRX short interest report for the past week and highlighted short interest changes in Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M.

Ke Yan, CFA, FRM

Kolon Mobility (450140 KS)'s Delisting Offer

Trading tight to the cash terms at a 0.7%/9.8% and 0.7%/8.6% gross/annual spread for the common & preferred. The scrip terms for both are well out...

David Blennerhassett

End of Mandatory Lock-Up Periods for 39 Companies in Korea in October 2024

We discuss the end of the mandatory lock-up periods for 39 stocks in Korea in October 2024, among which four are in KOSPI and 35 are in KOSDAQ.

Douglas Kim

End of Mandatory Lock-Up Periods for 54 Companies in Korea in May 2024

We discuss the end of the mandatory lock-up periods for 54 stocks in Korea in May 2024, among which 4 are in KOSPI and 50 are in KOSDAQ.

Douglas Kim

An Early Look at the Potential KOSDAQ150 Rebalance Candidates in June 2024

In this insight, we discuss the potential KOSDAQ150 rebalance candidates in June 2024. Potential inclusion candidates include LS Materials,...

Douglas Kim

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