Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>This is the second weekly series on the "Top 20 Best Performers in the Korean Stock Market Adjusted for Trading Value &amp; Mkt Cap." </li>
<li>Starting this weekly, we include stocks in both KOSPI and KOSDAQ. All the stocks in KOSPI and KOSDAQ are ranked, adjusted for market cap and trading value. </li>
<li>Among the top 20 performers, NCSoft, Hyundai Motor, Kia Motors, Dohwa Engineering, DB Hitek, SK Telecom, and KT Corp were included. </li>
</ul>


This is the second weekly series on the "Top 20 Best Performers in the Korean Stock Market Adjusted for Trading Value &amp; Mkt Cap." 
Starting this weekly, we include stocks in both KOSPI and KOSDAQ. All the stocks in KOSPI and KOSDAQ are ranked, adjusted for market cap and trading value. 
Among the top 20 performers, NCSoft, Hyundai Motor, Kia Motors, Dohwa Engineering, DB Hitek, SK Telecom, and KT Corp were included. 


Top 20 Best Performers in the Korean Stock Market (Week of 13 May)

Equity Capital Markets

<ul>
<li>Lionheart Studio Corp, which is one of the fastest growing game making companies in Korea, is getting ready to complete its IPO as early as 2H 2022. </li>
<li>Lionheart Studio is best known for its popular mobile game Odin which ranked first in app market sales right after its launch in June of last year.</li>
<li>Kakao Games' share price could fall further as some investors that are enthusiastic about Odin would rather invest invest in Lionheart Studio directly rather than in Kakao Games.</li>
</ul>


Lionheart Studio Corp, which is one of the fastest growing game making companies in Korea, is getting ready to complete its IPO as early as 2H 2022. 
Lionheart Studio is best known for its popular mobile game Odin which ranked first in app market sales right after its launch in June of last year.
Kakao Games' share price could fall further as some investors that are enthusiastic about Odin would rather invest invest in Lionheart Studio directly rather than in Kakao Games.


Lionheart Studio Getting Ready for an IPO as Early as 2H 2022: A Near-Term Negative for Kakao Games

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The founder and former chairman and CEO of <a href="https://www.smartkarma.com/entities/nexon-co-ltd" target="_blank" data-smartkarma-citation="entities:16032:1" rel="noopener">Nexon (3659 JP)</a> passed away according to both Nexon and his holding company NXC. Both announced it late afternoon 1 March.</li>
<li>NXC - the near-parent  (47+% stake) of Nexon tried to sell Nexon/NXC in H1 2019 to no avail. Since then, profits have rebounded somewhat, and investments have multiplied. </li>
<li>The estate may wish to sell Nexon shares, or its entire stake, at some point near-term.</li>
</ul>


The founder and former chairman and CEO of Nexon (3659 JP) passed away according to both Nexon and his holding company NXC. Both announced it late afternoon 1 March.
NXC - the near-parent  (47+% stake) of Nexon tried to sell Nexon/NXC in H1 2019 to no avail. Since then, profits have rebounded somewhat, and investments have multiplied. 
The estate may wish to sell Nexon shares, or its entire stake, at some point near-term.


Nexon - Founder Kim Jung-Ju Passes, Raises Question if Nexon Deal Is Back In Play

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

<ul>
<li>Among Korea's local metaverse ETFs, the Big Three have significant AUMs. At yesterday's closing prices, their AUMs are ₩0.41T, ₩0.40T, and ₩0.20T, respectively. Their total is now 1 trillion won.</li>
<li>Those on which we can perform stable momentum trading are the 14 stocks included in all three ETFs. Passive funds account for +3% of MC in half of these names.</li>
<li>Weighting adjustment uses keyword relevance. So, estimation is not easy. Nevertheless, since the absolute value does not change significantly, we can reduce the error by using the previous rebalancing weighting.</li>
</ul>


Among Korea's local metaverse ETFs, the Big Three have significant AUMs. At yesterday's closing prices, their AUMs are ₩0.41T, ₩0.40T, and ₩0.20T, respectively. Their total is now 1 trillion won.
Those on which we can perform stable momentum trading are the 14 stocks included in all three ETFs. Passive funds account for +3% of MC in half of these names.
Weighting adjustment uses keyword relevance. So, estimation is not easy. Nevertheless, since the absolute value does not change significantly, we can reduce the error by using the previous rebalancing weighting.


Korea Local Metaverse ETFs: Passive Flow Preview

<ul>
<li>It was reported on 2/9 that Saudi Arabia's Public Investment Fund (PIF) increased its stake in NCSOFT Corp (036570 KS) to 6.69%, which currently represents 808 billion won ($670 million).</li>
<li>This investment comes right after it was reported in the past several days ago that Saudi Arabia's PIF purchased a 5% stake in Nexon (3659 JP) for $883 million.</li>
<li><strong>Saudi Arabia's PIF investing NCsoft and Nexon as well as launching Savvy Gaming Group (SGG) are likely to renew increased interest in the recently beaten down Asian game stocks. </strong></li>
</ul>


It was reported on 2/9 that Saudi Arabia's Public Investment Fund (PIF) increased its stake in NCSOFT Corp (036570 KS) to 6.69%, which currently represents 808 billion won ($670 million).
This investment comes right after it was reported in the past several days ago that Saudi Arabia's PIF purchased a 5% stake in Nexon (3659 JP) for $883 million.
Saudi Arabia's PIF investing NCsoft and Nexon as well as launching Savvy Gaming Group (SGG) are likely to renew increased interest in the recently beaten down Asian game stocks. 


Saudi Arabia's PIF Launches Savvy Gaming Group and Buys 6.7% of NCsoft & 5% of Nexon

South Korea

NCSOFT Corporation develops and markets on-line games that enable users to play over the Internet and computer software, such as web editing software.  The Company also designs and constructs databases, Intranet, and commercial Internet access systems.

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NCSOFT Corp (036570 KS)

Top 20 Best Performers in the Korean Stock Market (Week of 13 May)

This is the second weekly series on the "Top 20 Best Performers in the Korean Stock Market Adjusted for Trading Value & Mkt Cap." Starting this...

Douglas Kim

Lionheart Studio Getting Ready for an IPO as Early as 2H 2022: A Near-Term Negative for Kakao Games

Lionheart Studio Corp, which is one of the fastest growing game making companies in Korea, is getting ready to complete its IPO as early as 2H...

Douglas Kim

Nexon - Founder Kim Jung-Ju Passes, Raises Question if Nexon Deal Is Back In Play

Nexon's founder Kim Jung-ju has passed away. This raises the question of the disposition of the 47+% stake belonging to his holding company NXC. If...

Travis Lundy

Korea Local Metaverse ETFs: Passive Flow Preview

This post tracks and previews the passive flows of Korea's three metaverse sector ETFs for the upcoming semi-annual rebalancing in June.

Sanghyun Park

Saudi Arabia's PIF Launches Savvy Gaming Group and Buys 6.7% of NCsoft & 5% of Nexon

Saudi Arabia's PIF investing NCsoft and Nexon as well as launching Savvy Gaming Group (SGG) are likely to renew increased interest in the recently...

Douglas Kim

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