Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Merger of Dongwon Industries & Dongwon Enterprise

Dongwon Industries Merger: KOSPI 200 Flow Trading & Shorting Prospects on Cancellation

Dongwon Industries Listens to Minority Shareholders and Changes Merger Ratio with Dongwon Enterprise

Korea Small Cap Gem #5: Satrec Initiative

Buffett's Investments in Japanese Trading Companies - Positive Boost to Korean Trading Companies?

A Quick Look at the Buffet Trade and the Most Obvious Follow-Ons

Event-Driven

<p>Sajo Industries is one of the mid-sized food companies in Korea, specializing in tuna fish, pet food, Korean condiments, and other food products.</p>
<p>A group of minority shareholders are "going activist" on this company and requesting an EGM.</p>
<ul>
<li>They believe that the market value of Sajo Industries' real estate is worth nearly 10x what is recorded on the balance sheet (about 5 trillion won in market value versus book value of about 0.5 trillion won). </li>
<li>This group of minority shareholders are also balking at the proposed merger of Castlex Seoul and Castlex Jeju, a couple of golf courses in Seoul and Jeju, which clearly appears to be a move that could benefit the controlling shareholder but not the minority shareholders of Sajo Industries. </li>
</ul>

Sajo Industries is one of the mid-sized food companies in Korea, specializing in tuna fish, pet food, Korean condiments, and other food products.
A group of minority shareholders are "going activist" on this company and requesting an EGM.

They believe that the market value of Sajo Industries' real estate is worth nearly 10x what is recorded on the balance sheet (about 5 trillion won in market value versus book value of about 0.5 trillion won). 
This group of minority shareholders are also balking at the proposed merger of Castlex Seoul and Castlex Jeju, a couple of golf courses in Seoul and Jeju, which clearly appears to be a move that could benefit the controlling shareholder but not the minority shareholders of Sajo Industries. 


Korea Small Cap Gem #8: Sajo Industries - Minority Activists Take Charge