Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>The Deputy Prime Minister Choi Sang Mok reaffirmed the Corporate Value Up program, pushing up the major value driven/low PBR stocks in Korea today.</li>
<li>Deputy Prime Minister Choi emphasized that as part of Corporate Value Up program, corporate tax benefits to companies that have made efforts to strengthen shareholder return policy will be provided.</li>
<li>The Korean government also plans to revise the law to separate taxation on the dividend income of shareholders of companies that expand dividends.</li>
</ul>


The Deputy Prime Minister Choi Sang Mok reaffirmed the Corporate Value Up program, pushing up the major value driven/low PBR stocks in Korea today.
Deputy Prime Minister Choi emphasized that as part of Corporate Value Up program, corporate tax benefits to companies that have made efforts to strengthen shareholder return policy will be provided.
The Korean government also plans to revise the law to separate taxation on the dividend income of shareholders of companies that expand dividends.


Research from Asian Century Stocks, Asian Century Stocks

Michael Fritzell

Research from Asian Century Stocks

Providing financial journalism in the Asia-Pacific

Asian Century Stocks

Asian Century Stocks is a newsletter providing financial journalism for companies and stocks in the Asia-Pacific. 
The Asian Century Stocks logotype “百” stands for “one hundred” or a “century”. The economic centre of gravity is moving towards Asia. Yet most global investors are missing out.

Equity Bottom-Up

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<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/214/158/original/1.png?1624239576" class="editor-image img-responsive" data-smartkarma-image-id="214158"></figure>
</section>
<p>I just read the book <a href="https://www.amazon.com/Samsung-Rising-Inside-Korean-Conquer-ebook/dp/B07T9WTTZC/ref=sr_1_1?dchild=1&amp;keywords=samsung+rising&amp;qid=1623743594&amp;sr=8-1" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.amazon.com/Samsung-Rising-Inside-Korean-Conquer-ebook/dp/B07T9WTTZC/ref%3Dsr_1_1?dchild%3D1%26keywords%3Dsamsung%2Brising%26qid%3D1623743594%26sr%3D8-1&amp;source=gmail&amp;ust=1624323969123000&amp;usg=AFQjCNGC2aiiwDMsNjEfaxR0gESTgnBzqg" rel="noopener">Samsung Rising</a> by Geoffrey Cain and found it enlightening.</p>
<p>Samsung is a unique company: one of the best brand names to ever come out of East Asia.</p>
<p>This post will give you a brief history of how Samsung made the journey from a post-war trading company to an international technology giant. I will then describe where Samsung is today and where it could be heading in the future.</p>




I just read the book Samsung Rising by Geoffrey Cain and found it enlightening.
Samsung is a unique company: one of the best brand names to ever come out of East Asia.
This post will give you a brief history of how Samsung made the journey from a post-war trading company to an international technology giant. I will then describe where Samsung is today and where it could be heading in the future.

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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>KEB Hana Bank, on behalf of the Lee family, is looking to raise up to US$1.6bn via selling 0.5% of <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> </li>
<li>The deal appears to be somewhat well flagged, however, the timing could have been much better.</li>
<li>In this note, we will run the deal through our ECM framework and talk about the recent updates.</li>
</ul>


KEB Hana Bank, on behalf of the Lee family, is looking to raise up to US$1.6bn via selling 0.5% of Samsung Electronics (005930 KS) 
The deal appears to be somewhat well flagged, however, the timing could have been much better.
In this note, we will run the deal through our ECM framework and talk about the recent updates.


Samsung Electronics Placement - Somewhat Well Flagged but Could Have Timed It Better

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of KRX Stocks as of Jan 5th which has an aggregated short interest worth USD9.6bn.</li>
<li>We tabulate league table 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 Sk Hynix, Samsung Electron, Naver, Kia.</li>
</ul>


We analyzed the changes in short interest of KRX Stocks as of Jan 5th which has an aggregated short interest worth USD9.6bn.
We tabulate league table 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 Sk Hynix, Samsung Electron, Naver, Kia.


KRX Short Interest Weekly (Jan 5th): Sk Hynix, Samsung Electron, Naver, Kia

Seoul Guarantee Insurance / Equity Capital Markets

<ul>
<li>Seoul Guarantee Insurance (031210 KS) stated today that it will cancel its IPO mainly due to low demand.</li>
<li>Despite the company's emphasis on high dividends and high ROA of 5.8% in 2022 (5x average ROA of the domestic non-life insurance companies), many institutional investors emphasized on the negatives.</li>
<li>The major negatives include high interest rates, lack of growth potential, concerns about additional shares sale overhang, and unattractive valuations. </li>
</ul>


Seoul Guarantee Insurance (031210 KS) stated today that it will cancel its IPO mainly due to low demand.
Despite the company's emphasis on high dividends and high ROA of 5.8% in 2022 (5x average ROA of the domestic non-life insurance companies), many institutional investors emphasized on the negatives.
The major negatives include high interest rates, lack of growth potential, concerns about additional shares sale overhang, and unattractive valuations. 


Seoul Guarantee Insurance Corp IPO - Cancelled

South Korea

Samsung Fire & Marine Insurance Co., Ltd. provides insurance services. The Company offers auto, fire, marine, casualty, health, leisure, and retirement products and services. Samsung Fire & Marine Insurance serves customers in South Korea.

Samsung Fire & Marine Insurance (000810 KS)

Samsung Fire & Marine Insurance (000810 KS)

Mr. Choi Goes to Washington

The Deputy Prime Minister Choi Sang Mok reaffirmed the Corporate Value Up program, pushing up the major value driven/low PBR stocks in Korea today.

Douglas Kim

Samsung Is In A Crucial Transition

Samsung is a unique company: one of the best brand names to ever come out of East Asia, covering Samsung's history, where it is today and its future

Asian Century Stocks

Samsung Electronics Placement - Somewhat Well Flagged but Could Have Timed It Better

KEB Hana Bank, on behalf of the Lee family, is looking to raise up to US$1.6bn via selling 0.5% of Samsung Electronics (005930 KS)

Sumeet Singh

KRX Short Interest Weekly (Jan 5th): Sk Hynix, Samsung Electron, Naver, Kia

We analyzed KRX short interest report for the past week and highlighted short interest changes in Sk Hynix, Samsung Electron, Naver, Kia.

Ke Yan, CFA, FRM

Seoul Guarantee Insurance Corp IPO - Cancelled

Seoul Guarantee Insurance cancelled IPO due to low demand as institutional investors highlighted negatives including interest rates, lack of...

Douglas Kim

Mr. Choi Goes to Washington

The Deputy Prime Minister Choi Sang Mok reaffirmed the Corporate Value Up program, pushing up the major value driven/low PBR stocks in Korea today.

Douglas Kim

Samsung Is In A Crucial Transition

Samsung is a unique company: one of the best brand names to ever come out of East Asia, covering Samsung's history, where it is today and its future

Asian Century Stocks

Samsung Electronics Placement - Somewhat Well Flagged but Could Have Timed It Better

KEB Hana Bank, on behalf of the Lee family, is looking to raise up to US$1.6bn via selling 0.5% of Samsung Electronics (005930 KS)

Sumeet Singh

KRX Short Interest Weekly (Jan 5th): Sk Hynix, Samsung Electron, Naver, Kia

We analyzed KRX short interest report for the past week and highlighted short interest changes in Sk Hynix, Samsung Electron, Naver, Kia.

Ke Yan, CFA, FRM

Seoul Guarantee Insurance Corp IPO - Cancelled

​Seoul Guarantee Insurance cancelled IPO due to low demand as institutional investors highlighted negatives including interest rates, lack of...

Douglas Kim

Seoul Guarantee Insurance cancelled IPO due to low demand as institutional investors highlighted negatives including interest rates, lack of...