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

Iljin Materials: Is the Potential Change in Compulsory Tender Offer Forcing Owner to Speed Up Sale?

SK Inc & SK Innovation Plan to Buy Stake in Bill Gates' TerraPower + SKC Sells PET Film Business

NPS Plans to Increase Its Stake in KEPCO from 6.4% to Up to 10.0%

Korean Rechargeable Batteries Value Chain: A Big Winner on a Biden Win & Global Climate Change Plans

Equity Capital Markets

Lotte Energy Materials / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/iljin-materials-co-ltd" target="_blank" data-smartkarma-citation="entities:7709:1" rel="noopener">Iljin Materials (020150 KS)</a> announced after the market close 9 November that it plans to IPO its 100% owned Malaysian subsidiary <a href="https://finance.naver.com/item/news_read.nhn?article_id=0004446565&amp;office_id=015&amp;code=020150&amp;sm=title_entity_id.basic" target="_blank" rel="noopener">IMM Technology</a>, which generated sales of 43.7 billion won in 2019. IMM Technology is a Malaysian company that produces elecfoil for rechargeable batteries. Elecfoil is a thin copper foil used for cathode collectors in rechargeable batteries. It is widely used in electric vehicles (EV) and energy storage systems (ESS). IMM Technology recently hired Korea Investment &amp; Securities and Shinhan Investment &amp; Securities as the lead bankers on this IPO deal. IMM Technology was established as a 100% subsidiary of Iljin Materials in 2017. IMM Technology produces nearly 20,000 tons of elecfoil for rechargeable batteries per year. IMM Technology plans to expand capacity to 30,000 tons by the end of 2021. This elecfoil production facility in Malaysia is even bigger than the company's copper foil production facility in Iksan (Jeonbuk), South Korea which has an annual production capacity of 16,000 copper foil. 2021 - The Year of Rechargeable Batteries IPOs in Korea - Next year will be the year of the rechargeable batteries IPOs in Korea. The biggest rechargeable battery IPO will be LG Energy Solutions (LG Chem), followed by SK IE Technology (SK Innovation). Iljin Materials' IMM Technology will follow these two IPOs as well. Overall, we believe the IPO listing of the IMM Technology Malaysian elecfoil business is likely to be a key positive catalyst for Iljin Materials over the next 6-12 months.

Iljin Materials (020150 KS) announced after the market close 9 November that it plans to IPO its 100% owned Malaysian subsidiary IMM Technology, which generated sales of 43.7 billion won in 2019. IMM Technology is a Malaysian company that produces elecfoil for rechargeable batteries. Elecfoil is a thin copper foil used for cathode collectors in rechargeable batteries. It is widely used in electric vehicles (EV) and energy storage systems (ESS). IMM Technology recently hired Korea Investment &amp; Securities and Shinhan Investment &amp; Securities as the lead bankers on this IPO deal. IMM Technology was established as a 100% subsidiary of Iljin Materials in 2017. IMM Technology produces nearly 20,000 tons of elecfoil for rechargeable batteries per year. IMM Technology plans to expand capacity to 30,000 tons by the end of 2021. This elecfoil production facility in Malaysia is even bigger than the company's copper foil production facility in Iksan (Jeonbuk), South Korea which has an annual production capacity of 16,000 copper foil. 2021 - The Year of Rechargeable Batteries IPOs in Korea - Next year will be the year of the rechargeable batteries IPOs in Korea. The biggest rechargeable battery IPO will be LG Energy Solutions (LG Chem), followed by SK IE Technology (SK Innovation). Iljin Materials' IMM Technology will follow these two IPOs as well. Overall, we believe the IPO listing of the IMM Technology Malaysian elecfoil business is likely to be a key positive catalyst for Iljin Materials over the next 6-12 months. 

Iljin Materials - IPO of Its 100% Owned Malaysian Subsidiary IMM Technology in 2021