Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Korea M&A Spotlight: Binggrae Acquires Haitai's Ice Cream Business

A Merger Between Lotte Confectionery and Lotte Food: An Alpha Generating Event

Binggrae's Banana Flavored Milk Lotions - A Big Hit!

The Fate of Lotte Group Companies Post Shin Kyuk-Ho Era

Douglas Research Advisory

Event-Driven

<ul>
<li>In the past week, Binggrae (005180 KS) announced that it plans to split into a holding company and an operating company in May 2025.</li>
<li>As part of this company reorganization, Binggrae announced that it plans to cancel all of its treasury shares (1 million common shares, representing 10.2% of total common shares outstanding).</li>
<li>We are positive on Binggrae due to cheap valuations (1.6x EV/EBITDA in 2025), steady growth in sales and profits, and 10% share cancellation. </li>
</ul>


In the past week, Binggrae (005180 KS) announced that it plans to split into a holding company and an operating company in May 2025.
As part of this company reorganization, Binggrae announced that it plans to cancel all of its treasury shares (1 million common shares, representing 10.2% of total common shares outstanding).
We are positive on Binggrae due to cheap valuations (1.6x EV/EBITDA in 2025), steady growth in sales and profits, and 10% share cancellation. 


Binggrae: Split into Two Companies and A Cancellation of 10% of Outstanding Shares

Binggrae Co Ltd

Binggrae: Split into Two Companies and A Cancellation of 10% of Outstanding Shares