Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

ASTA IPO Part 2 - Growth Potential & Appropriate Valuation Level

Equity Capital Markets

Applied Surface Technology / Equity Capital Markets

ASTA (Applied Surface Technology) (established in 2006) submitted the IPO report. ASTA is a technology-based company that develops and manufactures analytical instruments, equipment for sample preparations, and supplies. In particular, ASTA focuses on the development of MALDI-TOF MS (Matrix Assisted Laser Desorption Ionization Time-of-Flight Mass Spectrometer), its applications and supplies including MALDI-plates, matrix spotter and microwave based sample digestion system. Recently, MALDI-TOF has been introduced and widely used in the medical field as a diagnostic technology. ASTA has been developing various MALDI-TOF based medical applications such as cancer diagnosis and micro-organism identification. The glycan pattern analysis of serum proteins by MALDI-TOF, which is a ASTA owned cutting-edge technology, has successfully applied to early diagnosis of ovarian cancer and expanding its applications to other cancers such as breast cancer. In addition, MALDI-TOF based micro-organism identification system has been launched by ASTA and expanding its usages to medical field, agricultural industry and food industry etc.* In Part 1 (as below), I summarized the overview of this IPO with the financials and valuation. In Part 2, I will analyze the company's growth potential and appropriate valuation level.

ASTA (Applied Surface Technology) (established in 2006) submitted the IPO report. ASTA is a technology-based company that develops and manufactures analytical instruments, equipment for sample preparations, and supplies. In particular, ASTA focuses on the development of MALDI-TOF MS (Matrix Assisted Laser Desorption Ionization Time-of-Flight Mass Spectrometer), its applications and supplies including MALDI-plates, matrix spotter and microwave based sample digestion system. Recently, MALDI-TOF has been introduced and widely used in the medical field as a diagnostic technology. ASTA has been developing various MALDI-TOF based medical applications such as cancer diagnosis and micro-organism identification. The glycan pattern analysis of serum proteins by MALDI-TOF, which is a ASTA owned cutting-edge technology, has successfully applied to early diagnosis of ovarian cancer and expanding its applications to other cancers such as breast cancer. In addition, MALDI-TOF based micro-organism identification system has been launched by ASTA and expanding its usages to medical field, agricultural industry and food industry etc.* In Part 1 (as below), I summarized the overview of this IPO with the financials and valuation. In Part 2, I will analyze the company's growth potential and appropriate valuation level.

ASTA IPO Part 1 - Schedule, Financials & Valuation