Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>According to numerous local media, SK Hynix is considering on listing its treasury shares (2.4% of outstanding shares representing 17.4 million shares) as ADRs.</li>
<li>SK Hynix could cancel its treasury shares or list them as ADRs. The bigger bang for the buck will likely be to list them as ADRs. </li>
<li>By listing its shares as ADRs, the valuation gap between SK Hynix and other listed peers (such as MU and TSMC) could be reduced. </li>
</ul>


According to numerous local media, SK Hynix is considering on listing its treasury shares (2.4% of outstanding shares representing 17.4 million shares) as ADRs.
SK Hynix could cancel its treasury shares or list them as ADRs. The bigger bang for the buck will likely be to list them as ADRs. 
By listing its shares as ADRs, the valuation gap between SK Hynix and other listed peers (such as MU and TSMC) could be reduced. 


A Potential Listing of ADRs for SK Hynix Using Its Treasury Shares?

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Mar 20th. The aggregated holding was USD1,227.8bn.</li>
<li>We estimate that foreign flows to be outflows of USD3,168mln. 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, Hyundai Motor, SK Hynix, KIA, ISUPETASYS.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Mar 20th. The aggregated holding was USD1,227.8bn.
We estimate that foreign flows to be outflows of USD3,168mln. 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, Hyundai Motor, SK Hynix, KIA, ISUPETASYS.


KRX Foreign Holding Weekly (Mar 20th): Samsung Electronics, Hyundai Motor, SK Hynix, KIA, ISUPETASYS

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Mar 6th. The aggregated holding was USD1,186.0bn.</li>
<li>We estimate that foreign flows to be outflows of USD6,087mln. 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, Hyundai Motor, LIG Nex1, S-Oil.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Mar 6th. The aggregated holding was USD1,186.0bn.
We estimate that foreign flows to be outflows of USD6,087mln. 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, Hyundai Motor, LIG Nex1, S-Oil.


KRX Foreign Holding Weekly (Mar 6th): Samsung Electronics, SK Hynix, Hyundai Motor, LIG Nex1, S-Oil

<ul>
<li>We analysed the earning revision of component stocks of MS-South Korea in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on SK Hynix, KEPCO, MIRAE ASSET SEC, Samsung SDI, Hyundai Motor, Samsung Electronics, KB Financial, LG Energy Solution.</li>
</ul>


We analysed the earning revision of component stocks of MS-South Korea in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on SK Hynix, KEPCO, MIRAE ASSET SEC, Samsung SDI, Hyundai Motor, Samsung Electronics, KB Financial, LG Energy Solution.


MS-South Korea Index Earning Revision (Feb): SK Hynix, KEPCO, MIRAE ASSET SEC, Samsung SDI

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Feb 27th. The aggregated holding was USD1,368.0bn.</li>
<li>We estimate that foreign flows to be outflows of USD4,289mln. 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, Samsung Elec (PREF), SK Hynix, Hanmi Semi, SAMSUNG LIFE.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Feb 27th. The aggregated holding was USD1,368.0bn.
We estimate that foreign flows to be outflows of USD4,289mln. 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, Samsung Elec (PREF), SK Hynix, Hanmi Semi, SAMSUNG LIFE.


KRX Foreign Holding Weekly (Feb 27th): Samsung Electronics, Samsung Elec (PREF), SK Hynix

South Korea

Korea Electric Power Corporation (KEPCO) generates, transmits, and distributes electricity to South Korea for a variety of uses. The Company also builds and operates hydro-power, thermal-power, and nuclear power units in South Korea.

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Korea Electric Power (KEPCO) (015760 KS)

A Potential Listing of ADRs for SK Hynix Using Its Treasury Shares?

On 23 March, Hankyung Business Daily mentioned that SK Hynix is pursuing a plan to issue new shares (2.4% of outstanding shares) and list ADRs on...

Douglas Kim

KRX Foreign Holding Weekly (Mar 20th): Samsung Electronics, Hyundai Motor, SK Hynix, KIA, ISUPETASYS

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

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Mar 6th): Samsung Electronics, SK Hynix, Hyundai Motor, LIG Nex1, S-Oil

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

Ke Yan, CFA, FRM

MS-South Korea Index Earning Revision (Feb): SK Hynix, KEPCO, MIRAE ASSET SEC, Samsung SDI

We analyzed MS-South Korea's consensus for Feb 2026 and highlighted changes of EPS in SK Hynix (000660 KS), KEPCO (015760 KS), MIRAE ASSET SEC...

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Feb 27th): Samsung Electronics, Samsung Elec (PREF), SK Hynix

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

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A Potential Listing of ADRs for SK Hynix Using Its Treasury Shares?

On 23 March, Hankyung Business Daily mentioned that SK Hynix is ​​pursuing a plan to issue new shares (2.4% of outstanding shares) and list ADRs on...

Douglas Kim

KRX Foreign Holding Weekly (Mar 20th): Samsung Electronics, Hyundai Motor, SK Hynix, KIA, ISUPETASYS

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

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Mar 6th): Samsung Electronics, SK Hynix, Hyundai Motor, LIG Nex1, S-Oil

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

Ke Yan, CFA, FRM

MS-South Korea Index Earning Revision (Feb): SK Hynix, KEPCO, MIRAE ASSET SEC, Samsung SDI

We analyzed MS-South Korea's consensus for Feb 2026 and highlighted changes of EPS in SK Hynix (000660 KS), KEPCO (015760 KS), MIRAE ASSET SEC...

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Feb 27th): Samsung Electronics, Samsung Elec (PREF), SK Hynix

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

Ke Yan, CFA, FRM

On 23 March, Hankyung Business Daily mentioned that SK Hynix is pursuing a plan to issue new shares (2.4% of outstanding shares) and list ADRs on...