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

SK Square: A Solid Corporate Value Up Plan Likely to Lead to Continued Outperformance

Big Crypto Money Move in Korea - Impact on Key Listed Korean Companies

Kakao Corp Placement - Momentum Isn’t Great but It Is a Small Deal

DN Solutions IPO - Tariffs, Peer Correction Don’t Help

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>We are changing our View on SK Square (402340 KS) to Negative.</li>
<li>The major reason for this change is due to the surge in its share price along with lack of upside relative to its NAV.</li>
<li>Regarding SK Square, our holdco discount remains 40%. However, if there are real, positive continued efforts to improve corporate governance, this holdco discount could be reduced further.   </li>
</ul>


We are changing our View on SK Square (402340 KS) to Negative.
The major reason for this change is due to the surge in its share price along with lack of upside relative to its NAV.
Regarding SK Square, our holdco discount remains 40%. However, if there are real, positive continued efforts to improve corporate governance, this holdco discount could be reduced further.   


SKスクエア：利益確定のタイミング + そもそもホールドコ割引はなぜ存在するのか？