Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>The new head of Woori Financial Group (316140 KS) Chairman Lim Jong-Ryong recently revealed his willingness to acquire a major/mid-scale securities company.</li>
<li>Among these potential acquisition candidates, Samsung Securities is considered to be the most likely securities companies that could be purchased by Woori Financial Group.</li>
<li>In the long term (next 2-3 years), there is a good probability that Woori Financial Group could acquire Samsung Securities, which is not a core business of the Samsung Group.</li>
</ul>


The new head of Woori Financial Group (316140 KS) Chairman Lim Jong-Ryong recently revealed his willingness to acquire a major/mid-scale securities company.
Among these potential acquisition candidates, Samsung Securities is considered to be the most likely securities companies that could be purchased by Woori Financial Group.
In the long term (next 2-3 years), there is a good probability that Woori Financial Group could acquire Samsung Securities, which is not a core business of the Samsung Group.


Will Woori Financial Group Acquire Samsung Securities?

<ul>
<li>Key insiders at Seoul City Gas (017390 KS) and Daou Data Corp (032190 KS) sold their shares before the recent crash.</li>
<li>On 28 April, it was reported that Kim Young-Min (Seoul City Gas Chairman) sold 2% of Seoul City Gas on 20 April, resulting in net sales of 45.7 billion won.</li>
<li>These Korean companies are two of the eight stocks related to the CFD derivatives sell-down that have been crashing in the past week. </li>
</ul>


Key insiders at Seoul City Gas (017390 KS) and Daou Data Corp (032190 KS) sold their shares before the recent crash.
On 28 April, it was reported that Kim Young-Min (Seoul City Gas Chairman) sold 2% of Seoul City Gas on 20 April, resulting in net sales of 45.7 billion won.
These Korean companies are two of the eight stocks related to the CFD derivatives sell-down that have been crashing in the past week. 


Insiders At Seoul City Gas and Daou Data Corp Sell Shares Before the Crash

Equity Bottom-Up

<ul>
<li>Samsung FN REIT announced its IPO book building results. The IPO price was determined at 5,000 won per share. The demand ratio was 24.88 to 1. </li>
<li>The core investment thesis of Samsung FN REIT is that it is the only publicly listed Samsung affiliate that provides REIT services.</li>
<li>It is a stable business with excellent locations for its existing properties and the company is expected to provide 5.6% annual dividend yield in the next three years.</li>
</ul>


Samsung FN REIT announced its IPO book building results. The IPO price was determined at 5,000 won per share. The demand ratio was 24.88 to 1. 
The core investment thesis of Samsung FN REIT is that it is the only publicly listed Samsung affiliate that provides REIT services.
It is a stable business with excellent locations for its existing properties and the company is expected to provide 5.6% annual dividend yield in the next three years.


Equity Capital Markets

<ul>
<li>Samsung FN REIT is getting ready to complete its IPO in April 2023, which will be the first Samsung Group related REIT that will become public. </li>
<li>The core real estate properties of Samsung FN REIT will include the 'Daechi Tower' and 'S1 Building' which have excellent locations in Seoul. </li>
<li>We expect a huge demand for this IPO of Samsung FN REIT and we have a Positive view of this IPO. </li>
</ul>


Samsung FN REIT is getting ready to complete its IPO in April 2023, which will be the first Samsung Group related REIT that will become public. 
The core real estate properties of Samsung FN REIT will include the 'Daechi Tower' and 'S1 Building' which have excellent locations in Seoul. 
We expect a huge demand for this IPO of Samsung FN REIT and we have a Positive view of this IPO. 


Samsung FN REIT: The First Major REIT IPO for Samsung Group

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>In this note, we will take a look at the performance of bookrunners for Korean placements from 2019-2022. </li>
<li>The following dataset includes all Korean placements above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of <strong>29 deals</strong>.</li>
<li>The deals you see in this note are based on our historical placements tracker. Feel free to drop us a message for additional information on any of these placements.</li>
</ul>


In this note, we will take a look at the performance of bookrunners for Korean placements from 2019-2022. 
The following dataset includes all Korean placements above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 29 deals.
The deals you see in this note are based on our historical placements tracker. Feel free to drop us a message for additional information on any of these placements.


Aequitas Korea Placements Bookrunner Performance (2019-2022)

South Korea

Samsung Securities Co.,Ltd. provides personalized asset management services. The Company provides brokerage, investment trust, underwriting services, and other services. Samsung Securities also provides cyber trading, mutual funds, asset backed securities issuing, municipal bonds trading services.

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Samsung Securities (016360 KS)

Will Woori Financial Group Acquire Samsung Securities?

In the long term (next 2-3 years), there is a good probability that Woori Financial Group could acquire Samsung Securities, which is not a core...

Douglas Kim

Insiders At Seoul City Gas and Daou Data Corp Sell Shares Before the Crash

Key insiders at Seoul City Gas and Daou Data sold their shares before the recent crash.These Korean companies are two of the eight stocks related...

Douglas Kim

Samsung FN REIT: Book Building Results

Samsung FN REIT announced its IPO book building results. The core investment thesis of Samsung FN REIT is that it is the only publicly listed...

Douglas Kim

Samsung FN REIT: The First Major REIT IPO for Samsung Group

Samsung FN REIT is getting ready to complete its IPO in April 2023, which will be the first Samsung Group related REIT that will become public.

Douglas Kim

Aequitas Korea Placements Bookrunner Performance (2019-2022)

In this note, we will take a look at the performance of bookrunners for Korean placements from 2019-2022, which includes all Korean placements...

Ethan Aw

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)