Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>In this insight, we discuss a pair trade between Hanmi Science (long) and Hanmi Pharm (short). There are three major reasons we like this pair trade.</li>
<li>First, the gap between these two stocks have widened too much in the past year. Second, Hanmi Science may pay higher cash dividends due to inheritance tax issue. </li>
<li>Third, Hanmi Pharm's valuations remain lofty and Hanmi Science's valuation discount relative to its historical valuation has become more compelling. </li>
</ul>


In this insight, we discuss a pair trade between Hanmi Science (long) and Hanmi Pharm (short). There are three major reasons we like this pair trade.
First, the gap between these two stocks have widened too much in the past year. Second, Hanmi Science may pay higher cash dividends due to inheritance tax issue. 
Third, Hanmi Pharm's valuations remain lofty and Hanmi Science's valuation discount relative to its historical valuation has become more compelling. 


Korea Biotech & Healthcare: A Pair Trade Between Hanmi Science and Hanmi Pharm

South Korea

Hanmi Pharm. Company Ltd. produces pharmaceutical products, including antibiotics, vitamins, and intestinal tonics.  The Company also provides beverages and processes soft capsules for other pharmaceutical firms.

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