Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>On 22 March, SillaJen Inc (215600 KS) announced that it will conduct a rights offering worth about 129 billion won for R&amp;D and financials improvement.  </li>
<li>The rights offering size is 34.5 million shares, representing 34% of total outstanding shares. The expected rights offering price is 3,750 won which is 26% lower than current price. </li>
<li>We would not subscribe to this rights offering and we remain negative on the company.</li>
</ul>


On 22 March, SillaJen Inc (215600 KS) announced that it will conduct a rights offering worth about 129 billion won for R&amp;D and financials improvement.  
The rights offering size is 34.5 million shares, representing 34% of total outstanding shares. The expected rights offering price is 3,750 won which is 26% lower than current price. 
We would not subscribe to this rights offering and we remain negative on the company.


SillaJen Rights Offering Worth 34% of Outstanding Shares

Telco/Internet specialist

Kirk Boodry

Redex Research

Equity Bottom-Up

<ul>
<li>PayTM shares fell 27% in their debut as investors seem unhappy with loss-making companies.  Policy Bazaar's Monday listing was better (+40%) but it's not a good sign for Oyo</li>
<li>This is the seventh Q3 listing event for Vision Fund after little activity in Q2 and is consistent with weak performance for 2021 IPOs in general</li>
<li>The buyback is doing its job with shares up 13% in two weeks with the discount moving from 48%to 43%.  We have updated our Softbank and VF tables below</li>
</ul>


PayTM shares fell 27% in their debut as investors seem unhappy with loss-making companies.  Policy Bazaar's Monday listing was better (+40%) but it's not a good sign for Oyo
This is the seventh Q3 listing event for Vision Fund after little activity in Q2 and is consistent with weak performance for 2021 IPOs in general
The buyback is doing its job with shares up 13% in two weeks with the discount moving from 48%to 43%.  We have updated our Softbank and VF tables below


Softbank Group Mixed Early Results for Indian IPOs

United States

Roivant Sciences Ltd. operates as a healthcare company. The Company offers investigational drugs in development for therapeutic areas such as dermatology, immunology, and respiratory diseases, as well as provides healthcare technologies which help healthcare institutions share and aggregate data. Roivant Sciences provides services worldwide.

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Roivant Sciences Ltd (ROIV US)

SillaJen Rights Offering Worth 34% of Outstanding Shares

On 22 March, SillaJen announced that it will conduct a rights offering worth about 129 billion. The rights offering size is 34.5 million shares,...

Douglas Kim

Softbank Group Mixed Early Results for Indian IPOs

PayTM has fallen 27% on its debut and whilst Policy Bazaar's Monday listing was better (+40%) it's not a good sign for the upcoming Oyo IPO. We...

Kirk Boodry

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52-week Range

Market Cap (USDm)

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