In today’s briefing:
- Nongshim Raises Instant Noodles Prices
- DN Solutions IPO Might Skip OC—A Unique Trading Opportunity
- LS Corp: Chairman’s Words Have Big Impact on Share Price
Nongshim Raises Instant Noodles Prices
- Nongshim announced that it plans to increase the prices of its instant noodles and snack products starting next week.
- Nongshim plans to raise the retail prices of 14 instant noodle products by 7.2% on average and three snack products by 7.4% starting Monday (10 March).
- We estimate the consensus to raise their earnings estimates by 5-10%+ in 2025 and 2026, driven by the higher product prices of major instant noodles and snacks.
DN Solutions IPO Might Skip OC—A Unique Trading Opportunity
- With cautious foreign interest, DN Solutions’ big IPO deal might skip the OC and go full local for bookbuilding, setting a new trend in Korean IPOs.
- If foreign anchor orders drop, local players gain more negotiating power, leading to aggressive bidding and potentially a way more conservative IPO price.
- Offshore funds passing investment review without an OC could grab more volume, benefiting from local-led down-pricing without lock-up restrictions.
LS Corp: Chairman’s Words Have Big Impact on Share Price
- On 6 March, LS Group Chairman Koo Ja-Eun publicly stated “If you think duplicate listings are a problem, then just don’t buy the stocks after the listing.”
- Chairman Koo’s comment was not in the best interest of the major LS Group companies including LS Electric and LS Corp that are publicly traded.
- LS Group is preparing to list at least five unlisted affiliates including LS E-Link, Essex Solutions, LS Cable, LS MnM, and KOC Electric in the next 1-3 years.
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