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

Hanmi Science: NPS Sides With Mother (Chairwoman) And Daughter

OCI Holdings Plans to Acquire a 27% In Hanmi Science - To Spark a Family Feud?

Backstory on the Hanmi Science Showdown & KKR's Likely Tender Offer

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Event-Driven

<ul>
<li>The 2024 AGM of Hanmi Science is over and the two Lim brothers have control of the company. Nonetheless, the fight for the control of Hanmi Science is not over.</li>
<li>There is an increasingly probable scenario where the KKR private equity firm gets involved, joining hands with the Lim brothers.</li>
<li>If mum and sister do not sell their shares (which seems to be the higher likely scenario), then KKR may issue a tender offer to the remaining minority shareholders.</li>
</ul>


The 2024 AGM of Hanmi Science is over and the two Lim brothers have control of the company. Nonetheless, the fight for the control of Hanmi Science is not over.
There is an increasingly probable scenario where the KKR private equity firm gets involved, joining hands with the Lim brothers.
If mum and sister do not sell their shares (which seems to be the higher likely scenario), then KKR may issue a tender offer to the remaining minority shareholders.


Hanmi Science: If Talks With Mum and Sister Break Down, Then KKR May Provide a Partial Tender Offer