In today’s briefing:
- Sanil Electric IPO – Strong Profitability Growth, but Highly Dependent on Its Top Customers
- Merger Between Classys and Ilooda Likely to Reduce Local Competition
- Coupang Inc.: Artificial Intelligence Integration & 5 Major Growth Drivers
Sanil Electric IPO – Strong Profitability Growth, but Highly Dependent on Its Top Customers
- Sanil Electric (062040 KS) is looking to raise up to US$164m in its Korean IPO.
- Sanil Electric is a specialized company that manufactures and sells reactors, transformers, railway vehicle parts, and switchboards. As an industrial transformer manufacturer, the company mainly manufactures power and distribution transformers.
- In this note, we talk about the company’s historical performance.
Merger Between Classys and Ilooda Likely to Reduce Local Competition
- On 25 June, Classys (214150 KS) announced a merger with Ilooda (164060 KS). The merger ratio is set at 0.1405237 to 1 for Classys and Ilooda.
- This merger aims to combine Classys’ expertise in high-intensity focused ultrasound (HIFU) with Ilooda’s in micro-needle radio frequency (RF) and laser technologies.
- We have a positive view of this merger between Classys and Ilooda. This merger is likely to reduce the overall competition in the aesthetics devices market in Korea.
Coupang Inc.: Artificial Intelligence Integration & 5 Major Growth Drivers
- Coupang has commenced 2024 with a notable performance that underscores both strengths and areas in need of meticulous attention.
- During the first quarter, Coupang reported a robust 28% year-over-year growth in revenues in constant currency terms, attributed primarily to increased spending across customer cohorts, including its longest-standing customers.
- This points to successful customer retention and the appealing nature of its offerings.
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