In today’s briefing:
- WCP IPO Terms & Valuation Controversies
WCP IPO Terms & Valuation Controversies
- It is hard to understand why WCP uses future EBITDA in the peer valuation while all the peers are based on the 1Q22 LTM figures.
- Not only that, of the eight valuation peers, only SKIET and Shenzhen Senior Tech are the only ones with sufficient business relevance to WCP.
- WCP’s intrinsic market cap is ₩2.35T with a price per share of ₩69,141, implying that the bankers’ indicative price band is rather at a 15.7-44.6% premium.
Before it’s here, it’s on Smartkarma
