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

Hyundai GF Holdings: A Tender Offer of 15% Stake in Hyundai Ezwel

A Review of Tender Offers in Korea in 2024

Douglas Research Advisory

Event-Driven

<ul>
<li>On 4 November, Wins Co Ltd (136540 KS) announced a tender offer of 1,364,416 shares (10% of outstanding shares) at a tender offer price of 16,000 won per share.</li>
<li>The tender offer period will last from 5 to 24 November. Once the tender offer buyback is completed, the company also plans to cancel the shares. </li>
<li>The company is deeply undervalued with cheap valuation multiples. It has P/E of 7.2x and EV/EBITDA of 1.1x based on 2023 financials. </li>
</ul>


On 4 November, Wins Co Ltd (136540 KS) announced a tender offer of 1,364,416 shares (10% of outstanding shares) at a tender offer price of 16,000 won per share.
The tender offer period will last from 5 to 24 November. Once the tender offer buyback is completed, the company also plans to cancel the shares. 
The company is deeply undervalued with cheap valuation multiples. It has P/E of 7.2x and EV/EBITDA of 1.1x based on 2023 financials. 


Wins Co: Tender Offer Buyback and Cancellation of 10% of Outstanding Shares