Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>More than 20 trillion won (US$16 billion) worth of deals are up for M&amp;As in 2023.</li>
<li>However, due to high interest rates and differences on valuations among buyers and sellers, the M&amp;A market in Korea is likely to continue to be weak in 2023.</li>
<li>In this insight, we discuss 24 companies that are up for M&amp;As this year in Korea, including Hanon Systems, SK Shieldus, and K Car.</li>
</ul>


More than 20 trillion won (US$16 billion) worth of deals are up for M&amp;As in 2023.
However, due to high interest rates and differences on valuations among buyers and sellers, the M&amp;A market in Korea is likely to continue to be weak in 2023.
In this insight, we discuss 24 companies that are up for M&amp;As this year in Korea, including Hanon Systems, SK Shieldus, and K Car.


Korea M&A Outlook in 2023: What's for Sale?

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

Equity Bottom-Up

With 2016 operational figures that shows improvement in every way from increase in revenues, decrease in OpEx, increase in market share in Urban Luzon and Mega Manila despite a rising threat from TV 5 (which suggest their seriousness on getting into being considered as a real player), higher cash on hand relative to its peers, <a href="https://www.smartkarma.com/entities/23035" target="_blank" data-smartkarma-citation="entities:23035:1">GMA Network Inc (GMA7 PM)</a> is in better shape operationally.With the current PE is only 1/3 of its 5-year average, combined with 50% discount to its 5-year average price/cash flow and a dividend yield that is almost 3x higher than its 5-year average, the company screams Buy for investors who would like to add exposure to the Philippine media industry, which can also be accessed through <a href="https://www.smartkarma.com/entities/23034" target="_blank" data-smartkarma-citation="entities:23034:1">GMA Holdings Inc (GMAP PM)</a> for higher liquidity.

With 2016 operational figures that shows improvement in every way from increase in revenues, decrease in OpEx, increase in market share in Urban Luzon and Mega Manila despite a rising threat from TV 5 (which suggest their seriousness on getting into being considered as a real player), higher cash on hand relative to its peers, GMA Network Inc (GMA7 PM) is in better shape operationally.With the current PE is only 1/3 of its 5-year average, combined with 50% discount to its 5-year average price/cash flow and a dividend yield that is almost 3x higher than its 5-year average, the company screams Buy for investors who would like to add exposure to the Philippine media industry, which can also be accessed through GMA Holdings Inc (GMAP PM) for higher liquidity.  

Even a Better Timing to Own GMA7: Increase in Yield and Cheaper Valuation

South Korea

YTN Co., Ltd. provides 24-hour news service through television and internet. The Company also operates an automated answering service for stock prices, and news for mobile phone users.  YTN produces and distributes television programs to other broadcasting network companies.

Ytn (040300 KS)

Korea M&A Outlook in 2023: What's for Sale?

In this insight, we discuss 24 companies that are up for M&As this year in Korea, including Hanon Systems, SK Shieldus, and K Car.

Douglas Kim

Even a Better Timing to Own GMA7: Increase in Yield and Cheaper Valuation

With 2016 operational figures that shows improvement in every way from increase in revenues, decrease in OpEx, increase in market share in Urban...

Henry Soediarko