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

Hyundai Glovis: Cumulative Voting System Could Improve Corporate Governance of Hyundai Motor Group

US Tariffs on Imports from Japan Lowered to 15% but Imports from Korea Are Unchanged at 25% - Why?

Sanae Takaichi To Become Prime Minister of Japan - Negative Impact on Korean Auto Makers

The History, Swap Ratio, and Reasons Behind the Hyundai Mobis Spin-Off & Merger With Hyundai Glovis

Elliott Mgmt's Proposal #2 for the Hyundai Motor Group - Timing & Trying to Find the Middle Ground

Elliott Advisors Proposes More Concrete Corporate Governance Measures for the Hyundai Motor Group

Equity Bottom-Up

<ul>
<li>With the Carlyle Group taking a 10% stake in Hyundai Glovis, we believe there could be increasing pressures including through higher dividends and buybacks to return capital to shareholders.</li>
<li>Hyundai Glovis is likely to get re-rated going forward, driven by profitable expansion into LNG and hydrogen transport, online used car sales platform, and more favorable shareholder return policies.</li>
<li>Hyundai Glovis' recent contract with Tesla to ship cars out of China is another positive sign on the growing importance of Hyundai Glovis in the Asian vehicles shipping market.</li>
</ul>


With the Carlyle Group taking a 10% stake in Hyundai Glovis, we believe there could be increasing pressures including through higher dividends and buybacks to return capital to shareholders.
Hyundai Glovis is likely to get re-rated going forward, driven by profitable expansion into LNG and hydrogen transport, online used car sales platform, and more favorable shareholder return policies.
Hyundai Glovis' recent contract with Tesla to ship cars out of China is another positive sign on the growing importance of Hyundai Glovis in the Asian vehicles shipping market.


현대글로비스: 칼라일 그룹 및 소액주주들의 가치 제고 압력 증가