Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

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Orion Corp: Concerns About Diversification into LegoChem Bioscience

A Pair Trade Idea: Orion Holdings & Orion Corp

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

Equity Bottom-Up

<ul>
<li>Our NAV valuation suggests implied market cap of 1 trillion won or NAV per share of 15,983 won which is 11% higher than current price.</li>
<li>Orion Holdings has attractive dividend yields and payouts. The company's dividend yield increased from 4.1% in 2021 to 4.6% in 2022 and 5.1% in 2023. </li>
<li>The recent phenomenal performance of the movie <strong>Exhuma</strong> has resulted in a long-awaited revived positive sentiment on Showbox (which is 57.5% owned by Orion Holdings). </li>
</ul>


Our NAV valuation suggests implied market cap of 1 trillion won or NAV per share of 15,983 won which is 11% higher than current price.
Orion Holdings has attractive dividend yields and payouts. The company's dividend yield increased from 4.1% in 2021 to 4.6% in 2022 and 5.1% in 2023. 
The recent phenomenal performance of the movie Exhuma has resulted in a long-awaited revived positive sentiment on Showbox (which is 57.5% owned by Orion Holdings). 


Orion Holdings: Updated NAV, Higher Dividend Yield, and Exhuma Catalyst