Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>Tencent has been interested in acquiring Nexon for more than six years. However, the timing and price were not right for such a deal to take place in the past.</li>
<li>The higher probability scenario is for Kim's family members to sell when the timing and price is right. This time around, a $15 billion could be the right price. </li>
<li>Late founder Kim's family members own a 44.4% stake in Nexon through NXC Corp and its affiliate NXMB BV. Kim's wife and daughters own a 67.6% stake in NXC Corp. </li>
</ul>


Tencent has been interested in acquiring Nexon for more than six years. However, the timing and price were not right for such a deal to take place in the past.
The higher probability scenario is for Kim's family members to sell when the timing and price is right. This time around, a $15 billion could be the right price. 
Late founder Kim's family members own a 44.4% stake in Nexon through NXC Corp and its affiliate NXMB BV. Kim's wife and daughters own a 67.6% stake in NXC Corp. 


Tencent To Acquire Nexon? Time and Price Lining Up for a Final Deal?

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 Jun 6th. The aggregated short interest was USD0.8bn.</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 Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd, Hanmi Semicon, Hlb.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jun 6th. The aggregated short interest was USD0.8bn.
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 Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd, Hanmi Semicon, Hlb.


KRX Short Interest Weekly (Jun 6th): Lg Energy Solution, Celltrion, Ecoprobm, Hanmi Semicon

Cross Asset Strategy

<ul>
<li>In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (6 to 20 June 2025).</li>
<li>The top three picks in the past two weeks included Samsung C&amp;T, Amorepacific Holdings, and Samsung Securities . They were offset by poor performances by Nongshim and Krafton. </li>
<li>The top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&amp;M Insurance, JYP Entertainment, HiteJinro, and SK Inc.</li>
</ul>


In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (6 to 20 June 2025).
The top three picks in the past two weeks included Samsung C&amp;T, Amorepacific Holdings, and Samsung Securities . They were offset by poor performances by Nongshim and Krafton. 
The top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&amp;M Insurance, JYP Entertainment, HiteJinro, and SK Inc.


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (6 June to 20 2025)

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>
Toyota Chair TOYODA made a proposal to take over <a href="https://www.smartkarma.com/entities/toyota-industries-corp" target="_blank" data-smartkarma-citation="entities:4500:1" rel="noopener">Toyota Industries (6201 JP)</a>, not because he loves forklifts etc; but an opportunistic way to buy a large block of Toyota.</li>
<li>
<a href="https://www.smartkarma.com/entities/rio-tinto-ltd" target="_blank" data-smartkarma-citation="entities:13:1" rel="noopener">Rio Tinto Ltd (RIO AU)</a> shareholders voted down Palliser's proposal to review its dual-company structure. That was the right outcome.</li>
<li>
<a href="https://www.smartkarma.com/entities/hainan-meilan-international-airport-company-limited" target="_blank" data-smartkarma-citation="entities:12545:1" rel="noopener">Hainan Meilan (357 HK)</a>'s H-share Offer price of HK$10.62/share is not compelling; but it's not meant to be, as the SPA Buyer and Seller are ultimately controlled by Hainan SASAC.</li>
</ul>



Toyota Chair TOYODA made a proposal to take over Toyota Industries (6201 JP), not because he loves forklifts etc; but an opportunistic way to buy a large block of Toyota.

Rio Tinto Ltd (RIO AU) shareholders voted down Palliser's proposal to review its dual-company structure. That was the right outcome.

Hainan Meilan (357 HK)'s H-share Offer price of HK$10.62/share is not compelling; but it's not meant to be, as the SPA Buyer and Seller are ultimately controlled by Hainan SASAC.


Last Week in Event SPACE: Toyota, Rio Tinto, Hainan Meilan, Fujitsu General

<ul>
<li>In this insight, we discuss the alpha generation through companies that announced share buybacks in the Korean stock market in March and April 2025.</li>
<li>There were 40 companies in the Korean stock market that announced share buybacks in the past two months. On average, the share buyback announcements represented 1.7% of outstanding shares.</li>
<li>Astute traders should put alert signals on share buyback announcements in Korea with more than 3% outstanding shares. </li>
</ul>


In this insight, we discuss the alpha generation through companies that announced share buybacks in the Korean stock market in March and April 2025.
There were 40 companies in the Korean stock market that announced share buybacks in the past two months. On average, the share buyback announcements represented 1.7% of outstanding shares.
Astute traders should put alert signals on share buyback announcements in Korea with more than 3% outstanding shares. 


Alpha Generation Through Share Buybacks in Korea: Bi-Monthly (March and April 2025)

South Korea

Krafton, Inc. operates as a game development company. The Company develops console games, mobile games, computer games, and other related products. Krafton markets its products throughout South Korea.

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Krafton (259960 KS)

Tencent To Acquire Nexon? Time and Price Lining Up for a Final Deal?

The higher probability scenario is for Kim's family members to sell when the timing and price is right. This time around, a sale of NXC Corp/Nexon...

Douglas Kim

KRX Short Interest Weekly (Jun 6th): Lg Energy Solution, Celltrion, Ecoprobm, Hanmi Semicon

We analyzed KRX short interest report for the past week and highlighted short interest changes in Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd,...

Ke Yan, CFA, FRM

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (6 June to 20 2025)

Top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&M...

Douglas Kim

Last Week in Event SPACE: Toyota, Rio Tinto, Hainan Meilan, Fujitsu General

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

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