In today’s briefing:
- Ecopro Materials IPO – Thoughts on Valuation – Needs a Margin of Safety
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Ecopro Materials IPO – Thoughts on Valuation – Needs a Margin of Safety
- EcoPro Materials (ECO123 KS) is looking to raise up to US$500m in its Korean IPO.
- Ecopro Materials (EPM) manufactures and sells high-nickel precursors, one of the key materials for high-nickel cathode materials for secondary (rechargeable) batteries.
- In our previous note, we covered the company’s performance and undertook a peer comparison. In this note, we will share our thoughts on valuation.