In today’s briefing:
- Ecopro Materials IPO Valuation Analysis
- Sierracol – ESG Report – Lucror Analytics
Ecopro Materials IPO Valuation Analysis
- Our base case valuation for Ecopro Materials is implied price per share of 40,325 won per share, which is within the IPO price range of 36,200 won to 46,000 won.
- Given the lack of upside relative to the IPO price range, we have a negative view of this IPO.
- Ecopro Materials is engaged in the business of manufacturing and selling high-nickel precursors, one of the key materials for high-nickel anode materials for secondary batteries.
Sierracol – ESG Report – Lucror Analytics
- Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
- We assess SierraCol’s ESG as “Adequate”, in line with the Environmental, Social and Governance pillars. Disclosure is “Adequate” and Controversies are “Immaterial”.
- SierraCol has an “Adequate” Environmental score, mainly owing to the targets set for all key environmental factors.
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