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

Kakao Corp SoTP Valuation - Time To Go Underweight

The Merger of Kakao Page & Kakao M to Create Kakao Entertainment

A Bubble Forming in the Korean New Deal Funds Related Stocks? Details & Controversies

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

Equity Capital Markets

Korea Investment Holdings Co, Ltd. / Equity Capital Markets

Korea Investment Holdings Co, Ltd. (071050 KS)

<div class="content-highlight">
<p><strong>Kakao Bank is one of the <a href="https://www.smartkarma.com/entities/kakao-corp" target="_blank" data-smartkarma-citation="entities:15002:1" rel="noopener">Kakao Corp (035720 KS)</a> affiliates which is expected to complete its IPO in 1H 2021. Kakao Bank is expected to be one of the largest IPOs in Korea in 2021. </strong>The local media have mentioned the <a href="http://www.thebell.co.kr/free/content/ArticleView.asp?key=202007021435091720105091&amp;svccode=00&amp;page=1&amp;sort=thebell_check_time" target="_blank" rel="noopener">value of Kakao Bank</a> to be about 8 trillion won to 9 trillion won.</p>
<p>Korea Investment Holdings (KIH) has a 33.5% stake in Kakao Bank (indirectly owned through KIH's subsidiaries Korea Investment &amp; Securities and Korea Value Asset Management. <a href="https://www.smartkarma.com/entities/korea-investment-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:14839:1" rel="noopener">Korea Investment Holdings Co, Ltd. (071050 KS) </a>currently has a market cap of 4.4 trillion won so this 2.7 trillion won (33.5% stake in Kakao Bank at a value of 8 trillion won) would be worth 61% of Korea Investment Holding's market cap.</p>
</div>


Kakao Bank is one of the Kakao Corp (035720 KS) affiliates which is expected to complete its IPO in 1H 2021. Kakao Bank is expected to be one of the largest IPOs in Korea in 2021. The local media have mentioned the value of Kakao Bank to be about 8 trillion won to 9 trillion won.
Korea Investment Holdings (KIH) has a 33.5% stake in Kakao Bank (indirectly owned through KIH's subsidiaries Korea Investment &amp; Securities and Korea Value Asset Management. Korea Investment Holdings Co, Ltd. (071050 KS) currently has a market cap of 4.4 trillion won so this 2.7 trillion won (33.5% stake in Kakao Bank at a value of 8 trillion won) would be worth 61% of Korea Investment Holding's market cap.


Kakao Bank (One of the Biggest IPOs in Korea in 2021) - Big Boost to Korea Investment & Holdings