Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/gaeasoft" target="_blank" data-smartkarma-citation="entities:12164:1" rel="noopener">Gaeasoft (051160 KS)</a> is a very interesting small cap stock in Korea that is worth further study. Gaeasoft currently has a market cap of 351 billion won. Gaesoft owns a 79.4% in a private company called Oasis Corp ("Oasis Market"), which operates an e-commerce platform for eco-friendly organic food products. In early July, <a href="https://www.kedglobal.com/newsView/ked202107070008" target="_blank" rel="noopener">Oasis Corp</a> received a 50 billion won investment from a private equity firm called Unison Capital, which put the valuation of the company at 750 billion won, up from the valuation of 315 billion won Oasis Corp received in March 2021.<div class="content-highlight">
In our view, the value of Oasis Corp is likely to increase to nearly 1.5 trillion won over the next 12 months, doubling in the valuation from July 2021. If Oasis Corp is valued at 1.5 trillion won, a 79.4% stake would be worth 1.2 trillion won, which would be 239% higher than Gaesoft's market cap. 
Oasis Corp's major competitors include SSG.com, Kurly, and Coupang. Similar to its competitors, Oasis Corp has experienced strong growth in sales. Unlike its competitors, Oasis Corp is already profitable. 
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Gaeasoft (051160 KS) is a very interesting small cap stock in Korea that is worth further study. Gaeasoft currently has a market cap of 351 billion won. Gaesoft owns a 79.4% in a private company called Oasis Corp ("Oasis Market"), which operates an e-commerce platform for eco-friendly organic food products. In early July, Oasis Corp received a 50 billion won investment from a private equity firm called Unison Capital, which put the valuation of the company at 750 billion won, up from the valuation of 315 billion won Oasis Corp received in March 2021.
In our view, the value of Oasis Corp is likely to increase to nearly 1.5 trillion won over the next 12 months, doubling in the valuation from July 2021. If Oasis Corp is valued at 1.5 trillion won, a 79.4% stake would be worth 1.2 trillion won, which would be 239% higher than Gaesoft's market cap. 
Oasis Corp's major competitors include SSG.com, Kurly, and Coupang. Similar to its competitors, Oasis Corp has experienced strong growth in sales. Unlike its competitors, Oasis Corp is already profitable. 


Korea Small Cap Gem #10: Gaeasoft - Its Stake in Oasis May Be At Least 200% Higher Than Its Mkt Cap

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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.

<ul>
<li>In this note, we will look at the Asia Pacific IPO pipeline for 2024, following up with Japan &amp; Korea, after having looked at Hong Kong and India earlier.</li>
<li>This list has been compiled on a best effort basis from tracking the company filings and through various other sources</li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


In this note, we will look at the Asia Pacific IPO pipeline for 2024, following up with Japan &amp; Korea, after having looked at Hong Kong and India earlier.
This list has been compiled on a best effort basis from tracking the company filings and through various other sources
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Aequitas 2024 Asia IPO Pipeline - Japan & Korea

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/oasis-corp-of-korea" target="_blank" data-smartkarma-citation="entities:36074:1" rel="noopener">OASIS Corp (1799513D KS)</a> is looking to raise up to US$166m in its upcoming Korea IPO. </li>
<li>Oasis Corporation is an early morning delivery service business that delivers fresh food to consumers. It runs an e-commerce platform named ‘Oasis Market’ as well as offline stores.</li>
<li>Oasis Corporation aims to boost its sales and presence by further improving on its omnichannel strategy. However, its explosive growth appears likely to have been driven by COVID-induced lockdown measures. </li>
</ul>



OASIS Corp (1799513D KS) is looking to raise up to US$166m in its upcoming Korea IPO. 
Oasis Corporation is an early morning delivery service business that delivers fresh food to consumers. It runs an e-commerce platform named ‘Oasis Market’ as well as offline stores.
Oasis Corporation aims to boost its sales and presence by further improving on its omnichannel strategy. However, its explosive growth appears likely to have been driven by COVID-induced lockdown measures. 


Oasis Corporation IPO - Sole Profitable Player but Maybe Not for Long

LG Energy Solution / Equity Capital Markets

<ul>
<li>In this note, we will take a look at the Asia Pacific IPO pipeline for 2023, specifically for India, Asia-linked ADRs, Korea, Japan and ASEAN.</li>
<li>This list has been compiled on a best effort basis from tracking the company filings and through various other sources.</li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


In this note, we will take a look at the Asia Pacific IPO pipeline for 2023, specifically for India, Asia-linked ADRs, Korea, Japan and ASEAN.
This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Aequitas 2023 Asia IPO Pipeline - India, ADRs, Korea, Japan and ASEAN

Private Capital Markets

<ul>
<li>
SSG.com is getting ready for an IPO in 2H 2022/1H 2023. Local media have mentioned that SSG.com is targeting a valuation of 10 trillion won for the company.</li>
<li>We believe SSG.com would need to cut the valuation by at least 50% (5 trillion won) in order to complete its IPO. </li>
<li>We believe valuation levels of 11st would need to come down significantly in the 2 trillion won to 3 trillion won range in order for an IPO to be completed. </li>
</ul>



SSG.com is getting ready for an IPO in 2H 2022/1H 2023. Local media have mentioned that SSG.com is targeting a valuation of 10 trillion won for the company.
We believe SSG.com would need to cut the valuation by at least 50% (5 trillion won) in order to complete its IPO. 
We believe valuation levels of 11st would need to come down significantly in the 2 trillion won to 3 trillion won range in order for an IPO to be completed. 


SSG.Com & 11st: Need to Drastically Cut Their Valuations to Complete Their IPOs in 2022/2023

South Korea

SSG.Com Corp. operates as an online shopping platform. The Company retails apparels, foods, fashion goods, beauty products, and other related products. SSG.com markets its products worldwide.

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SSG.Com Corp (1689708D KS)

Korea Small Cap Gem #10: Gaeasoft - Its Stake in Oasis May Be At Least 200% Higher Than Its Mkt Cap

Gaeasoft (051160 KS) owns a 79.4% in a private company called Oasis Corp which operates an e-commerce platform for eco-friendly, organic food...

Douglas Kim

Aequitas 2024 Asia IPO Pipeline - Japan & Korea

In this note, we will look at the Asia Pacific IPO pipeline for 2024, following up with Japan & Korea, after having looked at Hong Kong and India...

Sumeet Singh

Oasis Corporation IPO - Sole Profitable Player but Maybe Not for Long

OASIS Corp (1799513D KS) is looking to raise up to US$166m in its upcoming Korea IPO. Oasis Corporation is an early morning delivery service...

Ethan Aw

Aequitas 2023 Asia IPO Pipeline - India, ADRs, Korea, Japan and ASEAN

In this note, we will take a look at the Asia Pacific IPO pipeline for 2023, specifically for India, Asia-linked ADRs, Korea, Japan and ASEAN.

Sumeet Singh

SSG.Com & 11st: Need to Drastically Cut Their Valuations to Complete Their IPOs in 2022/2023

SSG.com and 11st are getting ready to complete their IPOs in 2H 2022/2023. Both companies would need to significantly reduce their valuation...

Douglas Kim

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