Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>K Auction is getting ready to complete its IPO on the KOSDAQ exchange in January 2022. K Auction is the second largest art auction platform company in Korea. </li>
<li>K Auction's sales and operating profit surged by 69% YoY and 586% YoY in 1Q - 3Q 2021. It had a 42% share in the Korean art market in 1H21.</li>
<li>The valuations appear reasonable with large IPO discount. Given the strong demand for art market/NFT combined with strong financials, there is likely to be solid retail interest in this IPO. </li>
</ul>


K Auction is getting ready to complete its IPO on the KOSDAQ exchange in January 2022. K Auction is the second largest art auction platform company in Korea. 
K Auction's sales and operating profit surged by 69% YoY and 586% YoY in 1Q - 3Q 2021. It had a 42% share in the Korean art market in 1H21.
The valuations appear reasonable with large IPO discount. Given the strong demand for art market/NFT combined with strong financials, there is likely to be solid retail interest in this IPO. 


South Korea

Kukbo Design Co., Ltd. provides interior design services for hotels, office buildings, residential buildings, and special facilities.  The Company's services include planning design, detail design, remodeling, and construction.

JLS Co., Ltd. operates both off-line and on-line language schools. The Company manufactures and sells educational material used in its institutes. JLS manufactures network devices, such as fiber optic multiplexer, data transmission units, and community antenna television (CATV) transmission units.

NE Neungyule, Inc produces and publishes English learning materials, such as books, cassettes, and video tapes.  The Company also operates English education facility and provides on-line education through Internet.

MegaStudy Co., Ltd. offers on-line and off-line educational programs to high school students.  The Company provides college entrance test preparatory courses, e-learning, and college admission advisory services.

YBM NET, Inc. develops, markets, and operates various e-businesses, such as an English education service, an agency for foreign language on-line tests, and game software publishing. The Company also supports localization and programming development for overseas companies. YBM NET publishes English dictionaries and textbooks.

Visang Education Inc. designs, publishes, and distributes educational books. The Company's products include reference books for students and teachers and both online and offline classes from elementary to high-school students.

Hyundai Telecommunication Co., Ltd. specializes in manufacturing security equipment and home automation systems.  The Company's products include digital video recording systems, video door phones, digital door locks, and closed circuit television systems.

Seoul Auction Co., Ltd. operates auctions to trade art works of paint. The Company has galleries over the country, and purchases and sells various art works. Seoul Auction also makes loan for auction trading.

Chungdahm Learning Inc. operates foreign language schools through off-line and on-line.  The Company provides online one-to-one tutoring for educational institutions and students.

Fantagio Corp. operates franchise academies that offer advanced early childhood education programs for intellectually gifted children.

Prestariang Berhad is an information and communication technology (ICT) company. The Company provides ICT training and certification courses in Malaysia. Prestariang Bhd also provides software licensing distribution and management.

TEAR Corporation provides funeral services and operates funeral parlors.  The Company also provides services related to inheritance.

Global Dragon Limited provides commercial, academic, and technical education relating to electronic data processing, computers, languages, as well as financial and business management courses.  The Company also provides expertise in setting up and administering schools including the provision of course materials and training of staff.

HEIAN CEREMONY SERVICE CO., LTD provides wedding and funeral services.  The Company also operates catering services for parties and special events. Additionally Heian Ceremony Service also offers consulting for property and casualty insurances.

Overseas Education Limited is a private foreign school system in Singapore offering the K-12 IB curriculum. The Company provides a globalised multi-cultural environment to children aged between 3 and 18 years.

Slater & Gordon Limited is a national law firm. The Firm's areas of practice include commercial, family, employment, asbestos-related and personal injury law.

Evolve Education Group Limited provides children with early education until they attend primary school. The Company provides teacher-led and parent-led services in New Zealand.

Hakuyosha Company, Ltd. provides overall laundry services.  The Company has outlets throughout Japan, and provides dry cleaning and laundry services. Hakuyosha also supplies linens to hotels.

Shine Corporate Ltd. is a national law firm. The Firm's areas of practice includes personal injuries law, family law, property law, class actions, wills, probate and residential conveyancing.

Water Oasis Group Limited distributes exclusively ~H2O+ brand skin-care products in Hong Kong, Macau, Taiwan and China. The Company also operates spa centers under the Oasis Spa, Oasis Beauty, and Oasis Beauty Homme brand names.

K-auction.Inc operates commodity brokerage businesses. The Company provides commodity auctions and other services. K-auction conducts businesses in South Korea.

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K Auction (102370 KS)

K Auction IPO Preview

K Auction is getting ready to complete its IPO in January 2022. Given the strong demand for art market/NFT combined with strong financials, there...

Douglas Kim

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