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

HYBE Shorting Opportunity with a Lockup Release from Dunamu

End of Mandatory Lock-Up Periods for 58 Companies in Korea in December 2022

Back-Testing End of Mandatory Lock-Up Periods Data from Korea Securities Depository in 2H 2022

Korea Consumer Discretionary: A Pair Trade (Long CJ ENM and Short HYBE)

HYBE: Significant Reduction in MSCI Korea Index Weight Likely in 2022

HYBE: Consensus to Slash Earning Estimates Due to BTS Going on A "Temporary Break" For Solo Projects

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

<ul>
<li>On 17 October, the Korean government made a final official decision to have the BTS members serve in the mandatory military service.</li>
<li>We believe this will have a major negative impact on the sales and profits of HYBE in the next several years.</li>
<li>As a result of the Korean government formalizing the BTS members to enlist in the military, we believe that HYBE's share price could fall more than 50% from current levels.</li>
</ul>


On 17 October, the Korean government made a final official decision to have the BTS members serve in the mandatory military service.
We believe this will have a major negative impact on the sales and profits of HYBE in the next several years.
As a result of the Korean government formalizing the BTS members to enlist in the military, we believe that HYBE's share price could fall more than 50% from current levels.


HYBE: Korean Govt Mandates BTS Members to Enlist in Military - 50% Further Downside Risk Ahead