In today’s briefing:
- Quiddity Leaderboard KOSPI 200 Dec 24: Up to 5 ADDs & 6 DELs Possible
- SAMSUNG: Less About Preliminary Results, More About the Tech Missteps. Samsung Pain Is HYNIX’s Gain
- Hyundai Motor India IPO: Upsized Valuation Driven by Strong Investor Interest
- Orum Therapeutics IPO Preview
Quiddity Leaderboard KOSPI 200 Dec 24: Up to 5 ADDs & 6 DELs Possible
- KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).
- In this insight, we take a look at the names leading the race to become ADDs and DELs during the upcoming semiannual review in December 2024.
- We expect up to five ADDs and six DELs for the KOSPI 200 Index during this rebal event based on the latest available data. Small increase vs two weeks ago.
SAMSUNG: Less About Preliminary Results, More About the Tech Missteps. Samsung Pain Is HYNIX’s Gain
- Samsung Electronics (SMSN LI) Q3 preliminary Operating Profit results is 12% below consensus. Company issues rare apology, effectively admitting technology competitiveness falls short.
- SK Hynix (000660 KS) is powering ahead in HBM memory in our view, securing Nvidia 2025 allocations, and industry leading efficiencies.
- A range of factors have created a great opportunity for SK Hynix investment given misunderstood industry dynamics and position at NVIDIA Corp (NVDA US).
Hyundai Motor India IPO: Upsized Valuation Driven by Strong Investor Interest
- Hyundai Motor India (1342Z IN) ’s IPO, launching next week, is expected to be priced between Rs1,865 and Rs1,960, valuing the company at USD 18-19 billion.
- At this valuation, Hyundai’s India unit will account for over 40% of its parent company’s market cap, potentially unlocking significant value for Hyundai Motor (005380 KS).
- Despite a weak growth in India’s passenger vehicle sales ytd, investor interest in the IPO is reportedly strong thanks to India’s booming equity market and robust fund inflows.
Orum Therapeutics IPO Preview
- Orum Therapeutics is getting ready to complete its IPO in KOSDAQ in November 2024. The IPO price range is from 30,000 won to 36,000 won.
- The expected market cap after IPO is from 648 billion won to 778 billion won. The book building for the institutional investors starts on 24 October.
- Orum Therapeutics’ main pipelines include ‘ORM-6151’, a new drug candidate for acute myeloid leukemia, ‘ORM-5029’, a HER2-targeting breast cancer treatment candidate, and ‘ORM-1023’, a small cell carcinoma tumor candidate.
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