In today’s briefing:
- Hyundai Motor Securities Announces a Rights Offering Involving a 49% Shares Dilution
- Lotte Chilsung Beverage – Its Land in Seochogu, Seoul Is More Than 3x Its Market Cap
- MNC Solutions Pre-IPO – Thoughts on Valuation – Defensively, Would Ideally like a Further Discount
Hyundai Motor Securities Announces a Rights Offering Involving a 49% Shares Dilution
- Hyundai Motors Securities announced a rights offering worth nearly 200 billion won involving a 49% shares dilution.
- The amount of shares dilution is excessive which is likely to result in a share price weakness in Hyundai Motor Securities in the coming weeks.
- The expected rights offering price for now is 6,640 won per share which is 24.5% discount to the closing price on 26 November.
Lotte Chilsung Beverage – Its Land in Seochogu, Seoul Is More Than 3x Its Market Cap
- Lotte Chilsung Beverage’s land in Seochogu, Seoul is estimated to be worth more than 3x its market cap.
- In the past several weeks, there have been increasing concerns about the overall debt pressures at the Lotte Group.
- Lotte Group may be considering on selling some of its assets including Lotte Rental, Lotte Capital, and Lotte Chilsung Beverage’s Seochogu land.
MNC Solutions Pre-IPO – Thoughts on Valuation – Defensively, Would Ideally like a Further Discount
- MNC Solution (MNC KS) is looking to raise US$200m in its Korea IPO.
- MNC Solutions (MNC) supplies high-precision control components for maritime and aviation weaponry, and travel devices for stabilization to the defense industry.
- In our previous note, we looked at the firm’s past performance and undertook a peer comparison. In this note, we discuss our thoughts on valuation.
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