APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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Daewoo Engineering & Construction / Equity Capital Markets

Daewoo Engineering & Construction (047040 KS)

<p>SEBT Investment is looking to sell 24m shares of <a href="https://www.smartkarma.com/entities/12333" target="_blank" data-smartkarma-citation="entities:12333:1">Daewoo Engineering &amp; Constr (047040 KS)</a>, approximately US$160m. Post this deal, SEBT will be left with about 20m shares, representing 4.8% of the company's total shares outstanding.</p><p>The deal scores poorly on our framework owing to expensive valuation and poor track record. The company managed to surprise the market with a swing from loss to profit in its latest quarter. However, SEBT has previously sold 7m shares in April and is looking to sell…</p>

SEBT Investment is looking to sell 24m shares of Daewoo Engineering &amp; Constr (047040 KS), approximately US$160m. Post this deal, SEBT will be left with about 20m shares, representing 4.8% of the company's total shares outstanding.The deal scores poorly on our framework owing to expensive valuation and poor track record. The company managed to surprise the market with a swing from loss to profit in its latest quarter. However, SEBT has previously sold 7m shares in April and is looking to sell…

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