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

<div class="content-highlight"><p>Our base case valuation of Aju Steel is implied market cap of 377 billion won or target price of 14,240 won per share, which would represent just 2% above the mid-point of the IPO price range (13,900 won). Given the lack of upside versus the IPO price range, we would AVOID this IPO. </p></div>

Our base case valuation of Aju Steel is implied market cap of 377 billion won or target price of 14,240 won per share, which would represent just 2% above the mid-point of the IPO price range (13,900 won). Given the lack of upside versus the IPO price range, we would AVOID this IPO. 

AJU Steel

Aju Steel IPO Valuation Analysis