In today’s briefing:
- MSCI Korea May Review: Two New Names Are Emerging for Inclusion
- Doosan Robotics (Number One Player in Collaborative Robots in Korea) & NAV Analysis of Doosan Corp
- Alpha Generation Through Share Buybacks in Korea: 1Q 2023
- Hanall Biopharma (009420 KS): Lead Pipeline Asset Moved a Step Closer to Commercialization in China
MSCI Korea May Review: Two New Names Are Emerging for Inclusion
- Two new names have emerged as likely candidates for inclusion in Korea: SM Entertainment and Cosmo Advanced Materials, whose YTD returns are approximately 104% and 83%, respectively.
- For SM Entertainment, the float rate may be adjusted downward depending on the tender offer results. Still, even if modified to 50%, it will surpass the float market cap hurdle.
- Cosmo still has a significant gap in the full market cap. However, we should note that the recent insane rally in Korea’s EV battery sector shows no signs of ending.
Doosan Robotics (Number One Player in Collaborative Robots in Korea) & NAV Analysis of Doosan Corp
- The Doosan Group is aiming to complete the IPO of Doosan Robotics in 2H 2023. Doosan Robotics is expected to be one of the largest IPOs in Korea in 2023.
- The local media have mentioned that Doosan Robotics could receive at least 1 trillion won (US$0.8 billion) in market cap valuation.
- Established in 2015, Doosan Corp owns a 90.9% stake in Doosan Robotics, which is the largest collaborative robot manufacturer in Korea.
Alpha Generation Through Share Buybacks in Korea: 1Q 2023
- In this insight, we discuss the alpha generation through companies that have been buying back their shares in the Korean stock market in 1Q 2023.
- We provide a list of 23 stocks in the Korean stock market that have announced share buyback programs in 1Q 2023.
- Some of the larger companies (with more than 1 trillion won in market cap) that have recently announced share buybacks including Celltrion Healthcare have been outperforming the market.
Hanall Biopharma (009420 KS): Lead Pipeline Asset Moved a Step Closer to Commercialization in China
- Hanall Biopharma (009420 KS)‘s partner Harbour BioMed reported positive top-line results from Phase 3 trial of batoclimab in myasthenia gravis in China. 250K people suffer from myasthenia gravis in China.
- Harbour BioMed plans to file for marketing approval of batoclimab this year. Hanall is eligible for high-single-digits to mid-teen percentage royalties on net sales of batoclimab.
- Hanall reported record high revenue of KRW110 billion in 2022. However, net profit plunged 78% to KRW2 billion due to increased investments in R&D.
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