In today’s briefing:
- Attractive Yield of Kumho Petrochem Pref Shares Amid 100 Billion Won of Common Shares Cancellation
- Bluemtec IPO Preview
Attractive Yield of Kumho Petrochem Pref Shares Amid 100 Billion Won of Common Shares Cancellation
- On 16 October, Kumho Petrochem (011780 KS) announced that it will cancel 0.77 million shares on 23 October, representing 2.6% of its outstanding shares or about 100 billion won.
- We particularly like Kumho Petrochem preferred shares which provide a dividend yield of nearly 6.7% which is 2x the dividend yield of the common shares.
- Foreigners have been net buyers of Kumho Petrochem preferred shares this year while they have been net sellers of its common shares this year.
Bluemtec IPO Preview
- Bluemtec is getting ready to complete its IPO in KOSDAQ in the next several weeks. Bluemtec operates the number one pharmaceutical e-commerce platform in Korea.
- The company is offering 1.4 million shares in this IPO. The IPO price range is from 15,000 won to 19,000 won.
- The company sales and gross profit growth increased impressively in the past several years. The company’s sales increased at a CAGR of 60.5% from 2020 to 2022.
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