In today’s briefing:
- Messed up Korea IPO Pipeline and Unexpected Beneficiaries
Messed up Korea IPO Pipeline and Unexpected Beneficiaries
- 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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