Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

Over the years, we have found that the interest levels (as measured by the platform views on Smartkarma) often provide some interesting clues in terms of which IPOs will do well. In this insight, we provide our insights on the interest level comparisons for the five recent Korean IPOs. We have excluded Kakao Games from this list since IPOs this IPO has a much bigger market cap with much greater interest overall as compared to the five companies mentioned in this insight).BBC Co has received the highest interest level (measured in terms of platform views per report) among the five Korean IPOs that we have written about. These platform views are based on the initial IPO Preview report on each of these companies. So if the level of interest in BBC is 100, Wonbangtech is 87, and PIMS is 70. Overall, among these five companies, BBC is likely to receive the highest institutional investors' interest, followed by Wongbangtech, PIMS, Mico Biomed, and Vaiv.   <div class="content-highlight">Among the five upcoming small-cap IPOs in Korea, BBC Co and Wonbangtech have received the highest relative interest (in terms of Smartkarma platform views). Among these five companies, these two companies are also probably the most fundamentally sound companies relative to the other three companies. As a result, for the potential investors with some interest in investing in Korean small-cap IPOs, it may be worthwhile to keep this data under consideration and focus their research efforts on BBC Co and Wonbangtech. </div>

Over the years, we have found that the interest levels (as measured by the platform views on Smartkarma) often provide some interesting clues in terms of which IPOs will do well. In this insight, we provide our insights on the interest level comparisons for the five recent Korean IPOs. We have excluded Kakao Games from this list since IPOs this IPO has a much bigger market cap with much greater interest overall as compared to the five companies mentioned in this insight).BBC Co has received the highest interest level (measured in terms of platform views per report) among the five Korean IPOs that we have written about. These platform views are based on the initial IPO Preview report on each of these companies. So if the level of interest in BBC is 100, Wonbangtech is 87, and PIMS is 70. Overall, among these five companies, BBC is likely to receive the highest institutional investors' interest, followed by Wongbangtech, PIMS, Mico Biomed, and Vaiv.   Among the five upcoming small-cap IPOs in Korea, BBC Co and Wonbangtech have received the highest relative interest (in terms of Smartkarma platform views). Among these five companies, these two companies are also probably the most fundamentally sound companies relative to the other three companies. As a result, for the potential investors with some interest in investing in Korean small-cap IPOs, it may be worthwhile to keep this data under consideration and focus their research efforts on BBC Co and Wonbangtech. 

Interest Comparisons of Upcoming Korean Small-Cap IPOs: BBC, Wonbangtech, PIMS, Mico Biomed, & Vaiv

<a href="https://www.smartkarma.com/entities/npd-co-ltd" target="_blank" data-smartkarma-citation="entities:28833:1" rel="noopener">NPD Co Ltd (1302830D KS)</a> is a Korean company ready to complete its IPO in early March. NPD makes smartphone purpose FPCA (Flexible Printed Circuit Assembly) products and auto wiper blades. The IPO price range is from 5,400 won to 6,300 won. The IPO base deal size ranges from $34 million to $40 million.NPD's annualized net profit is 18.7 billion won in 2019 and applying P/E of 10.8x (average P/E of the comps), this results in an implied market cap of 203 billion won. The bankers then applied an IPO discount range of 33.2% to 42.7%, resulting in an IPO price range of 5,400 won to 6,300 won. At the low end of the IPO valuation range (5,400 won), this would imply a market cap of 116 billion won. Applying the company's annualized net profit of 18.7 billion won would suggest a P/E of 6.2x. NPD's sales and profits have been growing very nicely in the past five years. From 2015 to 2018, the company's sales increased by 30% CAGR. However, most of this sales growth came from the acquisition of Cap Co. auto wipers company in 2017.

NPD Co Ltd (1302830D KS) is a Korean company ready to complete its IPO in early March. NPD makes smartphone purpose FPCA (Flexible Printed Circuit Assembly) products and auto wiper blades. The IPO price range is from 5,400 won to 6,300 won. The IPO base deal size ranges from $34 million to $40 million.NPD's annualized net profit is 18.7 billion won in 2019 and applying P/E of 10.8x (average P/E of the comps), this results in an implied market cap of 203 billion won. The bankers then applied an IPO discount range of 33.2% to 42.7%, resulting in an IPO price range of 5,400 won to 6,300 won. At the low end of the IPO valuation range (5,400 won), this would imply a market cap of 116 billion won. Applying the company's annualized net profit of 18.7 billion won would suggest a P/E of 6.2x. NPD's sales and profits have been growing very nicely in the past five years. From 2015 to 2018, the company's sales increased by 30% CAGR. However, most of this sales growth came from the acquisition of Cap Co. auto wipers company in 2017. 

South Korea

Npd Co., Ltd. was founded in 2010. The company's line of business includes providing management consulting services.

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NPD Co Ltd (1302830D KS)

Interest Comparisons of Upcoming Korean Small-Cap IPOs: BBC, Wonbangtech, PIMS, Mico Biomed, & Vaiv

Over the years, we have found that the interest levels (as measured by the platform views on Smartkarma) often provide some interesting clues in...

Douglas Kim

NPD Co IPO Preview

NPD Co Ltd (1302830D KS) is a Korean company ready to complete its IPO in early March. NPD makes smartphone purpose FPCA (Flexible Printed Circuit...

Douglas Kim

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