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

Onewo Space-Tech Pre-IPO - Thoughts on Valuation

Onewo Space-Tech IPO: A Deep Dive into the Largest Business Segment

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Equity Capital Markets

<ul>
<li>Onewo Space-Tech (ONEWO HK) is getting ready to complete an IPO in Hong Kong in the coming weeks, seeking to raise nearly US$2 billion in this IPO.</li>
<li>Our initial valuation analysis suggests 19.2 billion RMB (US$2.7 billion) in market cap for Onewo. As such, it may be difficult for the company to raise US$2 billion in IPO. </li>
<li>Country Garden Services has higher sales growth, net profit growth, and net margins than Onewo. However, Onewo has higher ROE than Country Garden Services.</li>
</ul>


Onewo Space-Tech (ONEWO HK) is getting ready to complete an IPO in Hong Kong in the coming weeks, seeking to raise nearly US$2 billion in this IPO.
Our initial valuation analysis suggests 19.2 billion RMB (US$2.7 billion) in market cap for Onewo. As such, it may be difficult for the company to raise US$2 billion in IPO. 
Country Garden Services has higher sales growth, net profit growth, and net margins than Onewo. However, Onewo has higher ROE than Country Garden Services.


Onewo

Onewo Space-Tech IPO Preview