In today’s briefing:
- Daemyung Energy IPO Valuation Analysis
Daemyung Energy IPO Valuation Analysis
- Our base case valuation of Daemyung Energy is implied market cap of 624 billion won or target price of 35,003 won per share.
- Our target price represents 21% upside from the high end of the IPO price range, suggesting a reasonable upside. Therefore, we have a positive view of this IPO.
- Our base case valuation is based on 15.7x P/E (2022) which is based on a 30% discount to the comps’ average P/E valuation multiple in 2022.
Before it’s here, it’s on Smartkarma
