In today’s briefing:
- SKT Foreign Room Play Heating up — Entry Could Come Sooner than Expected with Today’s Fine Out
- HD Hyundai Robotics Raises 200 Billion Won and NAV Analysis of HD Hyundai
- Nota IPO Valuation Analysis
SKT Foreign Room Play Heating up — Entry Could Come Sooner than Expected with Today’s Fine Out
- SKT foreign room rising ahead of PIPC sanction decision today; fine confirmation could trigger ESG fund exits.
- Large ESG money still in SKT; post-sanction exits could push foreign room past 25% sooner than expected — a key factor for trading setup.
- Nov review momentum could hit early; post-fine, a foreign room surge toward 25% signals our entry, with the pullback setting up the SKT Nov inclusion trade.
HD Hyundai Robotics Raises 200 Billion Won and NAV Analysis of HD Hyundai
- HD Hyundai Robotics will raise 200 billion won ($144 million) valuing the company at 1.8 trillion won.
- Korea Development Bank and KY PE will be investing 200 billion won in HD Hyundai Robotics through a redeemable convertible preference shares in September.
- Our NAV valuation analysis of HD Hyundai suggests target price of 168,561 won per share, which represents a 27% upside from current levels.
Nota IPO Valuation Analysis
- Our base case valuation of Nota suggests target price of 11,948 won per share, which represents 31% higher than the high end of the IPO price range (9,100 won).
- Nota’s technology enables efficient operation of high-performance AI models. It has been able to develop one of the first commercially available generative AI-based intelligent video surveillance solution in Korea.
- We estimate Nota to generate revenue of 13.8 billion won (up 65% YoY) in 2025 and 21.7 billion won (up 57% YoY) in 2026.
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