Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Event-Driven

This post is about what's being heard inside Lotte Chemical wrt Hitachi Chemical. Invest Chosun put out a noteworthy report on LotChem's Hitachi pursuit. <a href="http://www.investchosun.com/2019/09/16/3241586" target="_blank" rel="noopener">Here is the link</a>. This post is mainly based on this Invest Chosun report as well as what I found from the local online communities.

This post is about what's being heard inside Lotte Chemical wrt Hitachi Chemical. Invest Chosun put out a noteworthy report on LotChem's Hitachi pursuit. Here is the link. This post is mainly based on this Invest Chosun report as well as what I found from the local online communities.

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David Riedel

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Independent equity research on GEM Markets

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Equity Bottom-Up

<ul class="ul1">
<li class="li1">Malaysian equities had a solid performance in the first half.  We believe economic and political trends support further upside.</li>
<li class="li1">In the first half the Malaysian index was up nearly 8% and the Ringgit strengthened over 3% against the USD.</li>
<li class="li1">Economic growth has been solid and the World Bank recently increased their growth expectations for 2017 and 2018.</li>
<li class="li1">The local market has been anxious about the impact of elections being called.  Elections must happen before the end of the current term in mid-2018</li>
<li class="li1">
We…</li>
</ul>


Malaysian equities had a solid performance in the first half.  We believe economic and political trends support further upside.
In the first half the Malaysian index was up nearly 8% and the Ringgit strengthened over 3% against the USD.
Economic growth has been solid and the World Bank recently increased their growth expectations for 2017 and 2018.
The local market has been anxious about the impact of elections being called.  Elections must happen before the end of the current term in mid-2018

We…


Actionable Ideas in Malaysia - Politics and Economics Will Drive Strong 2H17

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.<div class="content-highlight">This week, IPOs have been affected by tepid demand and price sensitivity from institutional investors. <a href="https://www.smartkarma.com/entities/24206" target="_blank" data-smartkarma-citation="entities:24206:1">RKE International Holdings Limited (3682 HK)</a> listing was pulled, the first in Hong Kong since Goodbaby China, while <a href="https://www.smartkarma.com/entities/24159" target="_blank" data-smartkarma-citation="entities:24159:1">Lotte Chemical Titan Holding Berhad (TTNP MK)</a>'s price range was widened to MYR6.50 - 8.00 and subsequently priced at MYR6.50. Another case of price…</div>

The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.This week, IPOs have been affected by tepid demand and price sensitivity from institutional investors. RKE International Holdings Limited (3682 HK) listing was pulled, the first in Hong Kong since Goodbaby China, while Lotte Chemical Titan Holding Berhad (TTNP MK)'s price range was widened to MYR6.50 - 8.00 and subsequently priced at MYR6.50. Another case of price…

Smartkarma: ECM Coverage Weekly Update (8 July 2017)

Lotte Chemical Titan Holding Berhad / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/24159" target="_blank" data-smartkarma-citation="entities:24159:1">Lotte Chemical Titan Holding Berhad (TTNP MK)</a> IPO's institutional price and the retail price have been fixed at RM6.5 per share for both institutional and retail investors. The announcement was made on July 4. In addition, LC Titan made some other interesting decisions including share buyback offer to retail investors and non-cornerstone bumiputra investors at the same price (RM6.5). Alright, let's find out more details about this bookbuilding process.

Lotte Chemical Titan Holding Berhad (TTNP MK) IPO's institutional price and the retail price have been fixed at RM6.5 per share for both institutional and retail investors. The announcement was made on July 4. In addition, LC Titan made some other interesting decisions including share buyback offer to retail investors and non-cornerstone bumiputra investors at the same price (RM6.5). Alright, let's find out more details about this bookbuilding process.

Lotte Chemical Titan IPO - Bookbuilding Results & Assessment

The lower end of the price range of the <a href="https://www.smartkarma.com/entities/24159" target="_blank" data-smartkarma-citation="entities:24159:1">Lotte Chemical Titan Holding Berhad (TTNP MK)</a> IPO has been lowered from MYR 7.60 to MYR 6.50 while the upper end remains the same at MYR 8.00. This represents a 15% downward revision from its the low-end of the previous price range. Along with the price revision, the number of shares offered was also reduced to 580m shares from 740m shares, 21% lower than previous. The new deal size is now much smaller, between US$877 - 1080m.<h2>Revised framework score</h2>We ran…

The lower end of the price range of the Lotte Chemical Titan Holding Berhad (TTNP MK) IPO has been lowered from MYR 7.60 to MYR 6.50 while the upper end remains the same at MYR 8.00. This represents a 15% downward revision from its the low-end of the previous price range. Along with the price revision, the number of shares offered was also reduced to 580m shares from 740m shares, 21% lower than previous. The new deal size is now much smaller, between US$877 - 1080m.Revised framework scoreWe ran…

Lotte Chemical Titan IPO - Upside Remains Limited Even After Price Revision

Malaysia

Lotte Chemical Titan Holding Berhad operates as a holding company. The Company, through its subsidiaries, offers polyethylene, ethylene, benzene, toluene, and other chemicals.

Lotte Chemical Titan Holding Berhad (TTNP MK)

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Lotte Chemical Titan Holding Berhad (TTNP MK)

Update on Lotte Chem & Hitachi Chem

This post is about what's being heard inside Lotte Chemical wrt Hitachi Chemical. Invest Chosun put out a noteworthy report on LotChem's Hitachi...

Sanghyun Park

Actionable Ideas in Malaysia - Politics and Economics Will Drive Strong 2H17

Malaysian equities had a solid performance in the first half. We believe economic and political trends support further upside. In the first half...

David Riedel

Smartkarma: ECM Coverage Weekly Update (8 July 2017)

The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.This week, IPOs have...

Zhen Zhou, Toh

Lotte Chemical Titan IPO - Bookbuilding Results & Assessment

Lotte Chemical Titan Holding Berhad (TTNP MK) IPO's institutional price and the retail price have been fixed at RM6.5 per share for both...

Sanghyun Park

Lotte Chemical Titan IPO - Upside Remains Limited Even After Price Revision

The lower end of the price range of the Lotte Chemical Titan Holding Berhad (TTNP MK) IPO has been lowered from MYR 7.60 to MYR 6.50 while the...

Zhen Zhou, Toh

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