Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>The controlling shareholder Koo Jeong-Mo and his affiliates will sell their 34.7% stake in Daegu Department Store through a public competitive bidding process.</li>
<li>A recent valuation of the company's real estate assets suggests a market valuation of nearly 700 billion won which is about 10x its market cap (72 billion won).</li>
<li>Even if this real estate value is discounted by 50% that would represent nearly 350 billion won (386% higher than its market cap).</li>
</ul>


The controlling shareholder Koo Jeong-Mo and his affiliates will sell their 34.7% stake in Daegu Department Store through a public competitive bidding process.
A recent valuation of the company's real estate assets suggests a market valuation of nearly 700 billion won which is about 10x its market cap (72 billion won).
Even if this real estate value is discounted by 50% that would represent nearly 350 billion won (386% higher than its market cap).


Daegu Department Store: Property Value Is 10x Mkt Cap + Controlling Shareholder Is Selling