Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>Our base valuation of TEMC is target price of 38,363 won per share. At the mid point of the IPO price range, our target price would represent a 10% upside. </li>
<li>Typically, we require a 15-20% upside in terms of target price versus the IPO price. In this case, given the lack of upside, we have a Negative View. </li>
<li>Our target price is based on a target P/E of 8.5x in 2023 which is the average P/E of the comps.</li>
</ul>


Our base valuation of TEMC is target price of 38,363 won per share. At the mid point of the IPO price range, our target price would represent a 10% upside. 
Typically, we require a 15-20% upside in terms of target price versus the IPO price. In this case, given the lack of upside, we have a Negative View. 
Our target price is based on a target P/E of 8.5x in 2023 which is the average P/E of the comps.


<ul>
<li>TEMC is getting ready to complete its IPO in Korea in January 2023. TEMC is a materials company that produces specialty gases for the semiconductor and display production processes.</li>
<li>The IPO price range is from 32,000 won to 38,000 won and the expected market cap is expected to be from 361 billion won to 429 billion won. </li>
<li>The company's sales increased at a 57.4% CAGR from 2019 to 2021. Its sales exploded higher by <strong>254% YoY</strong> to reach 238 billion won in 1Q-3Q 2022.</li>
</ul>


TEMC is getting ready to complete its IPO in Korea in January 2023. TEMC is a materials company that produces specialty gases for the semiconductor and display production processes.
The IPO price range is from 32,000 won to 38,000 won and the expected market cap is expected to be from 361 billion won to 429 billion won. 
The company's sales increased at a 57.4% CAGR from 2019 to 2021. Its sales exploded higher by 254% YoY to reach 238 billion won in 1Q-3Q 2022.


South Korea

TEMC Co., Ltd. operates industrial gas manufacturing businesses. The Company produces rare gases, mixed gases, and other products. TEMC conducts businesses across worldwide.

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

Temc (425040 KS)

TEMC IPO Valuation Analysis

Our base valuation of TEMC is target price of 38,363 won per share. Given the lack of upside, we have a Negative view of the IPO unless it is...

Douglas Kim

TEMC IPO Preview

TEMC is getting ready to complete its IPO in Korea in January 2023. Its sales exploded higher by 254% YoY to reach 238 billion won in 1Q-3Q 2022.

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)