Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>On 8 May, CUBox (340810 KS) announced its IPO price of 15,000 won, which is 13% lower than the lower end of the IPO price range of 17,200 won.</li>
<li>Our base case valuation of CUBox is implied target price of 22,719 won per share, which represents 51% higher than the IPO price of 15,000 won.</li>
<li>CUBox claims that it has one of the world's best technologies in the field of AI face recognition. </li>
</ul>


On 8 May, CUBox (340810 KS) announced its IPO price of 15,000 won, which is 13% lower than the lower end of the IPO price range of 17,200 won.
Our base case valuation of CUBox is implied target price of 22,719 won per share, which represents 51% higher than the IPO price of 15,000 won.
CUBox claims that it has one of the world's best technologies in the field of AI face recognition. 


<ul>
<li>Our base case valuation of CUBox is target price of 34,172 won per share, which is 47% higher than the high end of the IPO price range of 23,200 won. </li>
<li>Our base case valuation uses our estimated sales of 24.5 billion won for the company in 2023 and P/S multiple of 17.2x.</li>
<li>Given that CUBox is a leading player in the AI technology driven facial recognition in Korea, many investors are likely to pay higher premium for its technology. </li>
</ul>


Our base case valuation of CUBox is target price of 34,172 won per share, which is 47% higher than the high end of the IPO price range of 23,200 won. 
Our base case valuation uses our estimated sales of 24.5 billion won for the company in 2023 and P/S multiple of 17.2x.
Given that CUBox is a leading player in the AI technology driven facial recognition in Korea, many investors are likely to pay higher premium for its technology. 


<ul>
<li>CUBox is getting ready to complete its IPO in KOSDAQ in May. Given its leading position in the face recognition AI technology, it is expected to generate strong interest.</li>
<li>CUBox is a leading company in Korea that specializes in artificial intelligence (AI) image recognition.</li>
<li>The company is offering 1.5 million shares (100% new shares) in this IPO. The IPO price range is 17,200 to 23,200 won. </li>
</ul>


CUBox is getting ready to complete its IPO in KOSDAQ in May. Given its leading position in the face recognition AI technology, it is expected to generate strong interest.
CUBox is a leading company in Korea that specializes in artificial intelligence (AI) image recognition.
The company is offering 1.5 million shares (100% new shares) in this IPO. The IPO price range is 17,200 to 23,200 won. 


South Korea

CUBox Co., Ltd operates as a face recognition artificial intelligence company. The Company provides image segmentation and classification, object detection and tracking, video analysis, and other related services. CUBox markets its products worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

CUBox (340810 KS)

CUBox IPO Bookbuilding Results Analysis

CUBox announced its IPO price of 15,000 won, which is 13% lower than the lower end of the IPO price range of 17,200 won. Our base case valuation of...

Douglas Kim

CUBox IPO Valuation Analysis

Given that CUBox is a leading player in the AI technology driven facial recognition in Korea, many investors are likely to pay higher premium for...

Douglas Kim

CUBox IPO Preview

CUBox is getting ready to complete its IPO in KOSDAQ in May. Given its leading position in the face recognition AI technology, it is expected to...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)