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

Initial Thoughts on the HD Hyundai Global Service IPO in 2024 - Impact on HD Hyundai

FSS Provides Further Details of Korean Companies That Plan to Change Dividend Payout System in 2024

Initial Thoughts on the Hyundai Oilbank IPO & NAV Analysis on Hyundai Heavy Industries Holdings

Hyundai Heavy Industries IPO Valuation Analysis

Equity Bottom-Up

<ul>
<li>According to our NAV analysis, it suggests a base case valuation of 70,272 won per share for HD Hyundai, representing a 23% upside from current levels.</li>
<li>The expected dividend yield of HD Hyundai in 2023 is 7.8% which is attractive.</li>
<li>Hyundai Oilbank generated record results in the past year and this has been a key boost to the NAV of HD Hyundai. </li>
</ul>


According to our NAV analysis, it suggests a base case valuation of 70,272 won per share for HD Hyundai, representing a 23% upside from current levels.
The expected dividend yield of HD Hyundai in 2023 is 7.8% which is attractive.
Hyundai Oilbank generated record results in the past year and this has been a key boost to the NAV of HD Hyundai. 


HD Korea Shipbuilding & Offshore Engineering (009540 KS)

HD Korea Shipbuilding & Offshore Engineering

HD Hyundai: NAV Boost From Record Results At Hyundai Oilbank + High Dividend Yield