Smartkarma: ECM Coverage Weekly Update (24 June 2017)
The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs. It has been another...
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Lotte Chemical Titan IPO - Valuation up 5x in 6 Years Since Privatisation
Lotte Chemical Titan Holding Berhad (TTNP MK) is raising USD1,407–1,481m in its upcoming IPO. Proceeds will be used to fund the construction of the...
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Lotte Chemical Titan IPO - More Valuation Debate
My estimate for Titan's FY17 EBITDA is ₩600bil and I'd give 8x EBITDA multiple. So, I get ₩4.8tril price tag for Titan, which is slightly lower...
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Lotte Chemical Titan IPO - Valuation Sensitivity Analysis
Below is a sensitivity analysis for Titan's valuation. Titan's proposed RM8 based MC ₩5,182bil seems to be standing at about 30% discount to the...
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Lotte Chemical Titan IPO Preview: Beware Petrochemical Cycle Is Turning South
Lotte Chemical Titan, a major petrochemical player in Malaysia and Indonesia, is said to be raising up to US$1.2bn in its upcoming IPO. We will...
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