HD Hyundai Marine Solution IPO - Thoughts on Valuation
Books have opened today as the firm seeks to raise up to US$550m. Bookbuilding will run from today to April 22, with pricing slated for April 24....
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ECM Weekly (8th Apr 2024) - Hyundai Marine, Waaree Energies, Horizon Robotics, Bharti Hexacom
Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs. This week...
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HD Hyundai Marine Solution IPO - Peer Comparison - Not Particularly Exciting
HD Hyundai Marine Solution (443060 KS) is looking to raise up to US$555m in its Korean IPO. In this note, we talk about peer comparison.
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HD Hyundai Marine Solutions IPO: Valuation Insights
We examine the syndicate's valuation methodology. Our analysis suggests that the HMS is, at best, fairly valued at the IPO price range. We would...
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HD Hyundai Marine Solutions IPO: The Investment Case
The investment case rests on solid top-line growth, a healthy order book, rising margins, cash generation, and modest leverage.
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