Daily BriefsIndustrials

Daily Brief Industrials: WCP and more

In today’s briefing:

  • Messed up Korea IPO Pipeline and Unexpected Beneficiaries

Messed up Korea IPO Pipeline and Unexpected Beneficiaries

By Sanghyun Park

  • Hyundai Oilbank, this year’s biggest fish, dropped the IPO. Another big fish, CJ Olive Young, also officially announced that it would give up its listing.
  • The bookbuilding results of SOCAR turned out to be disastrous, suggesting an increased possibility that a higher-than-typical flow level will likely be seen in WCP and K Bank. 
  • In particular, despite the valuation issues, we should pay attention to the possibility of an unexpected level of local institutional flows flocking to WCP, which has less schedule risk.

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