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

Medtronic's M&A, Tender Offer, and Taking Private of Eoflow

SM Entertainment: EXO's Contract Controversy and Repeated Working Condition Issues

HYBE Gives Up the M&A Fight for SM Entertainment: Impact on Kakao's Tender Offer

Who Wants SM Entertainment More? Kim Bum-Soo (Kakao) Or Bang Si-Hyuk (Hybe)?

SM Entertainment: Kakao's Tender Offer Proration Analysis

The Blockchain Delusion. A (Mostly) Bearish Investment Thesis.

Event-Driven

<ul>
<li>Korea Investment &amp; Securities announced the final competition rate for the tender offer of SM Entertainment by Kakao Group (8,333,641 shares of SM Entertainment at 150,000 won per share).</li>
<li>The competition ratio of the tender offer was 2.2655436 to 1. Accordingly, the allocation ratio was set at 44.1395170%. </li>
<li>At the current price of 95,100 won, SM Entertainment's shares are undervalued by about 25% to 45% over the next 6-12 months, in our view. </li>
</ul>


Korea Investment &amp; Securities announced the final competition rate for the tender offer of SM Entertainment by Kakao Group (8,333,641 shares of SM Entertainment at 150,000 won per share).
The competition ratio of the tender offer was 2.2655436 to 1. Accordingly, the allocation ratio was set at 44.1395170%. 
At the current price of 95,100 won, SM Entertainment's shares are undervalued by about 25% to 45% over the next 6-12 months, in our view. 


SM Entertainment: Tender Offer Allocation Ratios Announced

S.M.Entertainment Co

SM Entertainment: Tender Offer Allocation Ratios Announced