In today’s briefing:
- S.M. Entertainment: Proration Musings
- Korea Kolmar: When Will People in Korea Stop Wearing Masks?
S.M. Entertainment: Proration Musings
- After HYBE (352820 KS) conceded to Kakao Corp (035720 KS) earlier this month, S.M.Entertainment Co (041510 KS)‘s shares have declined 23%.
- Kakao’s Partial Offer of ₩150,000/share closes on the 26 March.
- Unadjusted proration is 36.8%, conservatively rising to 48.5%. It may settle at 61% if HYBE maintains its position – but that is probably a tad optimistic.
Korea Kolmar: When Will People in Korea Stop Wearing Masks?
- The Korean government removed mask mandates for public transportation in Korea as of Monday, 20 March including in buses, taxis, and subways.
- There are four major reasons why it will take much longer time for most people in Korea to stop wearing masks.
- As millions of people stop wearing masks in the coming year, there will be clear, visible higher demand for cosmetics, which should benefit companies such as Korea Kolmar.
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