Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Equity Capital Markets

<p>Founded in 1995, Aju Steel specializes in producing color steel sheets. Color steel sheet is a high value-added material that has improved durability and functionality by processing the surface of steel to realize various colors and patterns. The company's color steel sheet products are mainly applied to premium home appliances and building interior and exterior materials where design is important. </p><p>The IPO price range of Aju Steel is from 12,700 won to 15,100 won. The IPO deal size is $78 million to $93 million. According to the bankers' valuation, the expected market cap after the IPO is from 336 billion won to 399 billion won. The book building for the institutional investors starts on 2 August 2021.</p><table class="table table-striped">
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<td style="width: 238pt;"><div>Deal Specifics of the Aju Steel IPO:</div></td>
<td style="width: 282pt;"> </td>
</tr>
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<td>Lead underwriters of the IPO: </td>
<td style="width: 282pt;">Mirae Asset Securities</td>
</tr>
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<td>Expected IPO price per share: </td>
<td style="width: 282pt;">12,700 won (low)/15,100 won (high)</td>
</tr>
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<td>Number of Shares for IPO:</td>
<td style="width: 282pt;">6.94m shares (4m new shares and 2.94m old shares)</td>
</tr>
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<td>IPO base deal size: </td>
<td style="width: 282pt;">US$78 mn (low);  US$93 mn (high)</td>
</tr>
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<td>Expected common shares outstanding, fully diluted (post-IPO):  </td>
<td style="width: 282pt;">26.45m shares</td>
</tr>
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<td>Expected market cap after IPO:</td>
<td style="width: 282pt;">336 billion won (low)/399 billion won (high)</td>
</tr>
<tr>
<td>Book open: </td>
<td style="text-align: left; width: 282pt;">2-Aug-21</td>
</tr>
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<td>Book closed:</td>
<td style="text-align: left; width: 282pt;">3-Aug-21</td>
</tr>
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<td>Listing date: </td>
<td style="text-align: left; width: 282pt;">TBD</td>
</tr>
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<td>Source: Company data</td>
<td style="width: 282pt;"> </td>
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</table><p><strong>Major Shareholders</strong> - The major shareholders of the company include the founder Lee Hak-Yeon (35.9%), Yoon Mi-Sook (16.3%) - wife of the founder Lee Hak-Yeon. </p>

Founded in 1995, Aju Steel specializes in producing color steel sheets. Color steel sheet is a high value-added material that has improved durability and functionality by processing the surface of steel to realize various colors and patterns. The company's color steel sheet products are mainly applied to premium home appliances and building interior and exterior materials where design is important. The IPO price range of Aju Steel is from 12,700 won to 15,100 won. The IPO deal size is $78 million to $93 million. According to the bankers' valuation, the expected market cap after the IPO is from 336 billion won to 399 billion won. The book building for the institutional investors starts on 2 August 2021.






Deal Specifics of the Aju Steel IPO:
 


Lead underwriters of the IPO: 
Mirae Asset Securities


Expected IPO price per share: 
12,700 won (low)/15,100 won (high)


Number of Shares for IPO:
6.94m shares (4m new shares and 2.94m old shares)


IPO base deal size: 
US$78 mn (low);  US$93 mn (high)


Expected common shares outstanding, fully diluted (post-IPO):  
26.45m shares


Expected market cap after IPO:
336 billion won (low)/399 billion won (high)


Book open: 
2-Aug-21


Book closed:
3-Aug-21


Listing date: 
TBD


Source: Company data
 


Major Shareholders - The major shareholders of the company include the founder Lee Hak-Yeon (35.9%), Yoon Mi-Sook (16.3%) - wife of the founder Lee Hak-Yeon. 

AJU Steel

Aju Steel IPO Preview