APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

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.

Equity Capital Markets

Samsung Electronics / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> is looking to raise around US$1.2bn from a secondary placement.</li>
<li>This represents 0.9 days of the stock’s three month ADV, and  0.3% of total shares outstanding.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



Samsung Electronics (005930 KS) is looking to raise around US$1.2bn from a secondary placement.
This represents 0.9 days of the stock’s three month ADV, and  0.3% of total shares outstanding.
In this note, we will talk about the placement and run the deal through our ECM framework.


Samsung Electronics Placement: Inheritance Tax Paydown by Family, Widely Telegraphed

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>It was reported that Hong Ra-hee, Lee Boo-jin, and Lee Seo-hyun will be selling a combined 1.7 trillion won worth of Samsung Electronics to pay for inheritance taxes.</li>
<li>This stake sale by the Lee family will represent 0.3% of Samsung Electronics outstanding shares. </li>
<li>Samsung Electronics still trade at low multiples and its valuations remain attractive. Its recent strategic partnership with OpenAI regarding the Stargate project also remain a major positive catalyst. </li>
</ul>


It was reported that Hong Ra-hee, Lee Boo-jin, and Lee Seo-hyun will be selling a combined 1.7 trillion won worth of Samsung Electronics to pay for inheritance taxes.
This stake sale by the Lee family will represent 0.3% of Samsung Electronics outstanding shares. 
Samsung Electronics still trade at low multiples and its valuations remain attractive. Its recent strategic partnership with OpenAI regarding the Stargate project also remain a major positive catalyst. 


Block Deal Sale of 1.7 Trillion Won Worth of Samsung Electronics

Equity Bottom-Up

<ul>
<li>Back on 6 November 2024, we published an insight called 2025 High Conviction: Samsung Electronics. In this insight, we provide an update of Samsung Electronics.</li>
<li>Samsung Electronics reported operating profit of 12.1 trillion won (up 31.8% YoY and 18.7% higher than consensus) in 3Q 2025.</li>
<li>The final installment of the 12 trillion won+ inheritance tax is due in April 2026.</li>
</ul>


Back on 6 November 2024, we published an insight called 2025 High Conviction: Samsung Electronics. In this insight, we provide an update of Samsung Electronics.
Samsung Electronics reported operating profit of 12.1 trillion won (up 31.8% YoY and 18.7% higher than consensus) in 3Q 2025.
The final installment of the 12 trillion won+ inheritance tax is due in April 2026.


An Update of Our 2025 High Conviction Pick: Samsung Electronics

<ul>
<li>In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (10 to 24 October 2025).</li>
<li>Top 10 picks in this bi-weekly include Samsung Electronics, Samsung Life Insurance, LG CNS, SK Hynix, KT&amp;G, Naver, Samsung C&amp;T, LG Uplus, Hyundai Elevator, and SK Inc. </li>
<li>The semiconductor sector was a big winner in the past two weeks. Some of the best performing stocks in this period include SK Hynix, Samsung Electronics, and Hanmi Semiconductor. </li>
</ul>


In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (10 to 24 October 2025).
Top 10 picks in this bi-weekly include Samsung Electronics, Samsung Life Insurance, LG CNS, SK Hynix, KT&amp;G, Naver, Samsung C&amp;T, LG Uplus, Hyundai Elevator, and SK Inc. 
The semiconductor sector was a big winner in the past two weeks. Some of the best performing stocks in this period include SK Hynix, Samsung Electronics, and Hanmi Semiconductor. 


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (10 to 24 October 2025)

<ul>
<li>Three major reasons why Samsung Electronics is our 2025 high conviction pick include attractive valuations, reduced concerns about inheritance tax overhang, and higher likely total shareholder returns.</li>
<li>Given that 2025 will be the last year of major inheritance tax payment for the Lee family, this reduced overhang could act as a positive sentiment on Samsung Electronics.</li>
<li>Pressures on Samsung to announce material improvement to shareholder returns are coming not just from existing shareholders but also from the Korean government due to Korea Corporate Value Up program.</li>
</ul>


Three major reasons why Samsung Electronics is our 2025 high conviction pick include attractive valuations, reduced concerns about inheritance tax overhang, and higher likely total shareholder returns.
Given that 2025 will be the last year of major inheritance tax payment for the Lee family, this reduced overhang could act as a positive sentiment on Samsung Electronics.
Pressures on Samsung to announce material improvement to shareholder returns are coming not just from existing shareholders but also from the Korean government due to Korea Corporate Value Up program.


2025 High Conviction: Samsung Electronics

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

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Samsung Electronics (SMSN LI)

Samsung Electronics Placement: Inheritance Tax Paydown by Family, Widely Telegraphed

Samsung Electronics is looking to raise around US$1.2bn from a secondary placement. In this note, we will talk about the placement and run the deal...

Nicholas Tan

Block Deal Sale of 1.7 Trillion Won Worth of Samsung Electronics

It was reported that Hong Ra-hee, Lee Boo-jin, and Lee Seo-hyun will be selling a combined 1.7 trillion won (US$1.2 billion) worth of Samsung...

Douglas Kim

An Update of Our 2025 High Conviction Pick: Samsung Electronics

Back on 6 November 2024, we published an insight called 2025 High Conviction: Samsung Electronics. In this insight, we provide an update of Samsung...

Douglas Kim

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (10 to 24 October 2025)

In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (10 to 24 October 2025).

Douglas Kim

2025 High Conviction: Samsung Electronics

According to industry sources, Samsung Electronics has reportedly passed NVIDIA's HBM3E 12-layer quality test and received a verbal order. So far,...

Douglas Kim

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