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

Hyundai Heavy Industries - Trading Strategy Post Book Building Results

Hyundai Heavy Industries Listing: Allocation, Lockups, & Float Schedule

Hyundai Heavy IPO Trading - One of the Strongest Demand but KSOE Is Not Budging

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

Hyundai Heavy Industries IPO Valuation Analysis

Equity Capital Markets

HD Hyundai Heavy Industries  / Equity Capital Markets

In this insight, we provide a detailed analysis about one of the biggest risks for <a href="https://news.mt.co.kr/mtview.php?no=2021090214420546193" target="_blank" rel="noopener">Hyundai Heavy Industries (HHI) IPO</a> which involves the regulators potentially blocking its acquisition of <a href="https://www.smartkarma.com/entities/daewoo-shipbuilding-marine-engineering" target="_blank" data-smartkarma-citation="entities:12531:1" rel="noopener">Daewoo Shipbuilding &amp; Marine Engineering (042660 KS) (DSME). </a>We also discuss five other major recent issues which could impact the IPO of Hyundai Heavy Industries. The following are the major issues we discuss in this insight:<ul>
<li>
Issue #1 [Will EU &amp; Japan Finally Block the Acquisition of Daewoo Shipbuilding?] [Negative]</li>
<li>
Issue #2 [Solid Results of Employees Stock Ownership Association Subscription of IPO Shares] [Positive]</li>
<li>
Issue #3 [Low Free Float] [Positive]</li>
<li>
Issue #4 [BOK raises interest rate] [Negative]</li>
<li>
Issue #5 [Share Price Performances of HHI's Comps] [Positive]</li>
<li>
Issue #6 [Impact of steel plate price deals with POSCO for 2H 2021] [Negative]</li>
</ul><div class="content-highlight">We continue to maintain a Negative view of the Hyundai Heavy Industries IPO. Despite improving shipbuilding orders, low free float, and solid employees subscription to the IPO shares, we believe the negatives outweigh these positives.  </div>

In this insight, we provide a detailed analysis about one of the biggest risks for Hyundai Heavy Industries (HHI) IPO which involves the regulators potentially blocking its acquisition of Daewoo Shipbuilding &amp; Marine Engineering (042660 KS) (DSME). We also discuss five other major recent issues which could impact the IPO of Hyundai Heavy Industries. The following are the major issues we discuss in this insight:

Issue #1 [Will EU &amp; Japan Finally Block the Acquisition of Daewoo Shipbuilding?] [Negative]

Issue #2 [Solid Results of Employees Stock Ownership Association Subscription of IPO Shares] [Positive]

Issue #3 [Low Free Float] [Positive]

Issue #4 [BOK raises interest rate] [Negative]

Issue #5 [Share Price Performances of HHI's Comps] [Positive]

Issue #6 [Impact of steel plate price deals with POSCO for 2H 2021] [Negative]
We continue to maintain a Negative view of the Hyundai Heavy Industries IPO. Despite improving shipbuilding orders, low free float, and solid employees subscription to the IPO shares, we believe the negatives outweigh these positives.  

Hyundai Heavy Industries - Will EU & Japan Finally Block the Acquisition of DSME?