In today’s briefing:
- Woori Financials Placement – Almost a Clean-Up Although past Deals Haven’t Done Much
- Yunkang Group IPO Trading – Subdued Subscription Rates Combined with Uncertain Future Profitability
Woori Financials Placement – Almost a Clean-Up Although past Deals Haven’t Done Much
- KDIC is looking to sell around half of its remaining stake in Woori Financial Group (WFG).
- This is almost a clean-up trade considering that KDIC had a stake of nearly 18% at the start of 2021 and will now be reduced to a less than 2%.
- In this note, we will run the deal through our ECM framework.
Yunkang Group IPO Trading – Subdued Subscription Rates Combined with Uncertain Future Profitability
- Yunkang Group (2325 HK) raised around US$139m in its Hong Kong IPO.
- On its bookbuild, subscription rates were lackluster and market sentiment hasn’t been the greatest.
- Similar recent deals with weak subscription rates had seen subdued listing performances by the end of their respective first weeks.
Before it’s here, it’s on Smartkarma
