Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

<ul>
<li>Our base case valuation of Sung Woo is target price of 27,981 won per share, which is within the IPO price range of 25,000 won to 29,000 won per share.</li>
<li>Given the lack of upside relative to the IPO price range, we have a Negative view of this IPO. </li>
<li>Our base case valuation of 27,981 won per share is based on a P/E of 16.9x based on net profit of 24.9 billion won in FY23.</li>
</ul>


Our base case valuation of Sung Woo is target price of 27,981 won per share, which is within the IPO price range of 25,000 won to 29,000 won per share.
Given the lack of upside relative to the IPO price range, we have a Negative view of this IPO. 
Our base case valuation of 27,981 won per share is based on a P/E of 16.9x based on net profit of 24.9 billion won in FY23.


<ul>
<li>Sung Woo is getting ready to complete its IPO in KOSDAQ in October 2024. Founded in 1992, Sung Woo produces components for cylindrical rechargeable battery, energy storage system, and automotive. </li>
<li>The IPO price range is from 25,000 won to 29,000 won. According to the bankers' valuation, the expected market cap is 376 billion won to 436 billion won. </li>
<li>The book building for the institutional investors will be conducted from 10 to 16 October. The lead underwriter of this IPO is Korea Investment &amp; Securities. </li>
</ul>


Sung Woo is getting ready to complete its IPO in KOSDAQ in October 2024. Founded in 1992, Sung Woo produces components for cylindrical rechargeable battery, energy storage system, and automotive. 
The IPO price range is from 25,000 won to 29,000 won. According to the bankers' valuation, the expected market cap is 376 billion won to 436 billion won. 
The book building for the institutional investors will be conducted from 10 to 16 October. The lead underwriter of this IPO is Korea Investment &amp; Securities. 


South Korea

Sung Woo Co.,Ltd manufactures monitors. The Company produces liquid crystal displays and other products. Sung Woo conducts businesses in South Korea.

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Sung Woo (458650 KS)

Sung Woo IPO Valuation Analysis

Our base case valuation of Sung Woo is target price of 27,981 won per share, which is within the IPO price range of 25,000 won to 29,000 won per...

Douglas Kim

Sung Woo IPO Preview

Sung Woo is getting ready to complete its IPO in KOSDAQ in October 2024. Sung Woo produces components for cylindrical rechargeable battery, energy...

Douglas Kim

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