APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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<p>NH Investment &amp; Securities is looking to sell 4m shares of <a href="https://www.smartkarma.com/entities/963" target="_blank" data-smartkarma-citation="entities:963:1">Hyundai Steel Co (004020 KS)</a> , worth about US$224m. Post-sale, the shareholder will still have about 3.49m shares or 3% of Hyundai Steel's total outstanding shares.</p><p>The deal scores poorly on our framework owing to the company's poor track record, earnings momentum, and poor leverage. Hyundai Steel has rallied after North Korea- US Summit is back on the table as the company could well benefit from railroad projects. However, we think that…</p>

NH Investment &amp; Securities is looking to sell 4m shares of Hyundai Steel Co (004020 KS) , worth about US$224m. Post-sale, the shareholder will still have about 3.49m shares or 3% of Hyundai Steel's total outstanding shares.The deal scores poorly on our framework owing to the company's poor track record, earnings momentum, and poor leverage. Hyundai Steel has rallied after North Korea- US Summit is back on the table as the company could well benefit from railroad projects. However, we think that…

Hyundai Steel Placement - An Opportunistic Sell by NH Investment