In today’s briefing:
- True Aspect (Trade-Wise) Of the Samsung Life Accounting Issue: Today’s Biggest Market Narrative
- Myungin Pharmaceutical IPO Preview
True Aspect (Trade-Wise) Of the Samsung Life Accounting Issue: Today’s Biggest Market Narrative
- Both accounting issues are complex, but intense regulator scrutiny fuels the Samsung Life Act case, sparking governance reshuffle bets and driving today’s Samsung Life stock pop.
- Accounting rechecks could spark divestment fears or governance-driven rerating, creating a classic headline-driven, bidirectional trading setup.
- Near-Term, this is a headline-driven momentum setup: Samsung Life longs/shorts, ready to pivot, with relative-value plays vs financial peers or Samsung’s governance-linked names.
Myungin Pharmaceutical IPO Preview
- Myungin Pharmaceutical is getting ready to complete its IPO in KOSPI in September. The IPO price range is from 45,000 won to 58,000 won.
- The total offering amount ranges from 153 billion won ($111 million) to 197 billion won ($143 million). The book building for the institutional investors lasts from 9 to 15 September.
- Using EBITDA of 104.5 billion won and EV/EBITDA of 7.9x and IPO discount ranges of 32.2% to 47.4%, this resulted in IPO price range of 45,000 won to 58,000 won.
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