In today’s briefing:
- Dowoo Insys IPO Preview
- Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (23 May to 6 June 2025)
- Samsung Fire & Marine Ins (000815 KS) Vs. Woori Financial (316140 KS): A Pair Trade Investigation
Dowoo Insys IPO Preview
- Dowoo Insys is getting ready to complete its IPO in Korea. Dowoo Insys is one of the first companies in Korea to commercialize ultra thin glass (UTG) for foldable displays.
- The IPO price range is 29,000 won to 32,000 won. At the high end of the IPO price range, the expected market cap of the company is 351 billion won.
- The bankers used five companies including Synopex, Duksan Neolux, and Innox Advanced Materials as comparable companies. The bankers used these companies’ average EV/EBITDA multiple of 15x to value Dowoo Insys.
Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (23 May to 6 June 2025)
- In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (23 May to 6 June 2025).
- Our top 10 picks were up on average 2.4% in the past two weeks (from 9 to 23 May), outperforming KOSPI which was up 0.6% in the same period.
- The top 10 picks in this bi-weekly include Samsung Securities, LG Uplus, Amorepacific Holdings, Samsung C&T, JYP Entertainment, Nongshim, Krafton, LS Electric, F&F, and Emart.
Samsung Fire & Marine Ins (000815 KS) Vs. Woori Financial (316140 KS): A Pair Trade Investigation
- The Samsung Fire & Marine Insurance (000815 KS) vs. Woori Financial Group (316140 KS) Price-Ratio has deviated two standard deviations from its one-year average, highlighting a potential tactical opportunity.
- Statistical and fundamental arguments are provided for and against a relative value trade in this pair that derives from two different industries.
- Trade setup, statistical properties, factor exposure, risk management strategies, and key events are discussed.
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