In today’s briefing:
- Celltrion Merger Update: Limits Lifted
- Korea Small Cap Gem #26: LF Corp – A Deep Value Play and the Lee Hyori Effect
Celltrion Merger Update: Limits Lifted
- Back on the 17 August, biopharmaceuticals developer and producer Celltrion Inc (068270 KS) announced a merger with Celltrion Healthcare (091990 KS).
- On October 23rd, shareholders approved the merger. The appraisal rights exercise period commenced on the 23 October and ends on November 13. 28th December is the merger’s effective date.
- Initially, the stock purchase rights limit was set at 1₩tn; however Celltrion Group’s founder/Chairman Seo Jung-jin has removed this limit. That takes care of NPS, which opposes the merger.
Korea Small Cap Gem #26: LF Corp – A Deep Value Play and the Lee Hyori Effect
- Lf Corp (093050 KS) is the 26th company in our Korea Small Cap Gems series.
- LF Corp is one of the leading apparel companies in Korea which has a market cap of 411 billion won. LF Corp is trading at 0.3x P/B and 4x P/E.
- A key near-term catalyst is better than expected sales of the Reebok branded apparel that are promoted by the pop icon Lee Hyori.
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