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

Korea Zinc Raises Share Buyback and Tender Offer Price to 890,000 Won

Scenario Analysis of Korea Zinc's Share Buyback, Cancellation, and Tender Offer + NPS's Five Options

Korea Zinc's 2.4% Treasury Shares - Devil Is In the Legal Loophole

MBK Raises Tender Offer Price of Korea Zinc to 830,000 Won

Legal Chaos Amid Young Poong Filing a Criminal Complaint Against Korea Zinc's BOD and What's Next?

Korea Zinc: Plans to Buy Back and Cancel Shares Worth 2.7 Trillion Won + Team Up with Bain Capital

MBK Raised Korea Zinc's Tender Price to ₩830K and Dropped the Hard Floor, Keeping the Upper Hand

MBK Hikes Youngpoong Precision Tender Price to ₩30,000: Tender Deadline Extended to the 14th

Douglas Research Advisory

Event-Driven

<ul>
<li>We discuss the impact on the balance sheet and debt ratios of Korea Zinc's efforts to conduct a massive debt increase to buyback and cancel shares. </li>
<li>Although the Choi family may consider raising further debt to increase the tender offer price even further, we believe this could pose further balance sheet risk on Korea Zinc. </li>
<li>We provide sensitivity analysis of higher debt on the interest coverage ratios of Korea Zinc. </li>
</ul>


We discuss the impact on the balance sheet and debt ratios of Korea Zinc's efforts to conduct a massive debt increase to buyback and cancel shares. 
Although the Choi family may consider raising further debt to increase the tender offer price even further, we believe this could pose further balance sheet risk on Korea Zinc. 
We provide sensitivity analysis of higher debt on the interest coverage ratios of Korea Zinc. 


Impact on Korea Zinc's Balance Sheet and Debt Ratios Post Massive Debt Raise Proposed by Choi Family