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

Trump Pressures the Korean Government to Ban Huawei in Korea - The Biggest Gray Rhino Event of 2019?

LG Electronics - Boost from Higher Dividends, Air Motion Technology, & The War Against Huawei

Foldable Smartphones to Debut in 2019; Will It Aid an Industry Turnaround?

Equity Capital Markets

Pumtech Korea Co Ltd / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/28101" target="_blank" data-smartkarma-citation="entities:28101:1">Pumtech Korea Co Ltd (251970 KS)</a>, the second largest manufacturer of cosmetics containers in Korea, is getting ready for an IPO in the next several weeks. The company's major customers include <a href="https://www.smartkarma.com/entities/6501" target="_blank" data-smartkarma-citation="entities:6501:1">Lg Household &amp; Health Care (051900 KS)</a>, <a href="https://www.smartkarma.com/entities/20854" target="_blank" data-smartkarma-citation="entities:20854:1">Amorepacific Corp (090430 KS)</a>, and Carver Korea (AHC brand). Of the 0.64 million shares sold in the IPO, 0.37 million are treasury shares, 0.14 million are shares held by private equity firms, and 0.13 million shares are held by insiders. The fact that nearly 58% of this amount is from the treasury shares are likely to be viewed positively since this would not involve shares dilution. The company's sales increased 21.1% CAGR from 2015 to 2018. In 2018, the company generated sales of 151.1 billion won (up 13.1% YoY) and operating profit of 24.5 billion won (up 27.9% YoY). The company's operating margin averaged 13.2% from 2015 to 2018.

Pumtech Korea Co Ltd (251970 KS), the second largest manufacturer of cosmetics containers in Korea, is getting ready for an IPO in the next several weeks. The company's major customers include Lg Household &amp; Health Care (051900 KS), Amorepacific Corp (090430 KS), and Carver Korea (AHC brand). Of the 0.64 million shares sold in the IPO, 0.37 million are treasury shares, 0.14 million are shares held by private equity firms, and 0.13 million shares are held by insiders. The fact that nearly 58% of this amount is from the treasury shares are likely to be viewed positively since this would not involve shares dilution. The company's sales increased 21.1% CAGR from 2015 to 2018. In 2018, the company generated sales of 151.1 billion won (up 13.1% YoY) and operating profit of 24.5 billion won (up 27.9% YoY). The company's operating margin averaged 13.2% from 2015 to 2018. 

Pumtech Korea Co Ltd

Pumtech Korea IPO Preview