In today’s briefing:
- DS Dansuk: Block Deal Sale by Stonebridge Capital
- Shift Up IPO: The Investment Case
- Shift Up IPO – Thoughts on Valuations – Bear/Base/Bull
DS Dansuk: Block Deal Sale by Stonebridge Capital
- After the market close on 28 May, it was announced that Stonebridge Capital plans to conduct a block deal sale of a portion of its stake in DS Dansuk.
- This deal involves 210,000 to 290,000 shares of DS Dansuk. The block deal price range is from 99,800 won to 101,400 won, which represents 7.06% to 8.52% discount.
- After this second block deal, there will be further overhang concerns about additional sales of DS Dansuk by Stonebridge Capital in the coming months.
Shift Up IPO: The Investment Case
- Shift Up (462870 KS) is Korea’s leading game development studio. It is seeking to raise up to US$320 million.
- Shift Up now focuses only on game development and has a policy of publishing games in cooperation with global partners such as Tencent (700 HK) and Sony Corp (6758 JP).
- The investment case rests on a stellar game development track record, several growth drivers, high profitability and cash generation.
Shift Up IPO – Thoughts on Valuations – Bear/Base/Bull
- Shift Up (462870 KS) plans to raise up to US$320m in its South Korean IPO.
- Shift Up is a South Korean games developer, which as released three games so far for the global markets.
- We have looked at the company’s performance in our past notes. In this note, we talk about valuations.
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