Kakao Pay IPO - Low-End Still Appear Reasonable but Stock Will More Likely Be Driven by Sentiment
Kakao Pay aims to raise up to US$1.3bn in its South Korean IPO. In this note, we will look at the recent updates and revisit our valuation.
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Coupang: Down 61% From the Peak, Further 60% Downside Is a Possibility
At 0.80x, Coupang’s EV/ (Gross Merchandise Value + Retail Revenue) remains 0.58x, 0.66x and 0.64x above Alibaba’s, JD.com’s and Pinduoduo’s EV/...
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Softbank Group - A First Look at Investment Losses for the Quarter
The next financial report for Softbank will be a tough one. With quarterly results in, Vision Fund’s public portfolio losses are c. $18.3bn. We...
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Softbank Sells $1.69 Billion Worth of Coupang Post Lockup Expiration - Overhang Concerns Continue
Now that SoftBank's sale of $1.69 billion in Coupang is public, there will likely be further negative pressure on Coupang's shares as investors...
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Asia Ex-Japan Positioning: India & Tech at Record Highs
In this analysis, we provide a detailed overview of investor positioning among 96 active Asia Ex-Japan funds with combined AUM of $80bn.
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