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

KCC Corp: Taking a Closer Step to Separating the Ownership Structures of the KCC Group

KCC Corp Split-Off - A Breakup for 3 Sons

Impact of the KCC Consortium Acquiring Momentive, the #2 Player in the Global Silicone Market

Korean Stubs Spotlight: A Pair Trade Between Samsung C&T and Samsung Electronics

KCC Corp Equity Spinoff: Summary & Mispricing Checkup

Equity Capital Markets

<ul>
<li>On 24 April, KCC Corp announced that it plans to IPO its subsidiary Momentive Performance Materials Inc. in the US stock market as early as 2023.</li>
<li>In 2021, KCC raised its stake in MOM Holding from 50% + 1 share to 60%. Momentive EBITDA increased from $300 million in 2018 to $450 million in 2022.</li>
<li>Our valuation of KCC Corp suggests an NAV of 3.1 trillion won (post 50% discount) or NAV per share of 347,633 won per share, representing 49% higher than current price.</li>
</ul>


On 24 April, KCC Corp announced that it plans to IPO its subsidiary Momentive Performance Materials Inc. in the US stock market as early as 2023.
In 2021, KCC raised its stake in MOM Holding from 50% + 1 share to 60%. Momentive EBITDA increased from $300 million in 2018 to $450 million in 2022.
Our valuation of KCC Corp suggests an NAV of 3.1 trillion won (post 50% discount) or NAV per share of 347,633 won per share, representing 49% higher than current price.


KCC: Plans to IPO Its Subsidiary Momentive Performance Materials in the US as Early as 2023

Kcc Corp

KCC: Plans to IPO Its Subsidiary Momentive Performance Materials in the US as Early as 2023