Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

<p>After an extremely successful book-building that saw an oversubscription of 1,714x the shares offered, <a href="https://www.smartkarma.com/entities/kakao-pay-corp" target="_blank" data-smartkarma-citation="entities:29675:1" rel="noopener">Kakao Pay (377300 KS)</a> has raised 1.53 trillion won at 90,000 won per share (at the higher end of the offer price range of 60,000-90,000 won per share).</p><p>At 90,000 won per share, Kakao Pay is priced at 35.4x EV/ LTM Sales with revenue growth of 102% YoY. This is towards the expensive side compared to the IPO multiples of global fintech peers. However, popular South Korean IPOs are almost a one-way bet these days. Nevertheless, we wouldn’t recommend holding onto Kakao Pay for too long.</p>

After an extremely successful book-building that saw an oversubscription of 1,714x the shares offered, Kakao Pay (377300 KS) has raised 1.53 trillion won at 90,000 won per share (at the higher end of the offer price range of 60,000-90,000 won per share).At 90,000 won per share, Kakao Pay is priced at 35.4x EV/ LTM Sales with revenue growth of 102% YoY. This is towards the expensive side compared to the IPO multiples of global fintech peers. However, popular South Korean IPOs are almost a one-way bet these days. Nevertheless, we wouldn’t recommend holding onto Kakao Pay for too long.

Kakaopay

Kakao Pay IPO: First Day Trading