Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Daemyung Energy: Lowers IPO Price Range by 40%

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Capital Markets

<ul>
<li>Daemyung Energy announced its IPO book building results. The IPO price has been determined at 15,000 won, which is at the low end of the IPO price range.</li>
<li>There were 890 institutions that were involved in the IPO survey and the demand ratio was 255 to 1. The IPO offering amount is 37.5 billion won.</li>
<li>Our base case valuation of Daemyung Energy is target price of 28,784 won per share, which is 92% premium to the IPO price of 15,000 won.</li>
</ul>


Daemyung Energy announced its IPO book building results. The IPO price has been determined at 15,000 won, which is at the low end of the IPO price range.
There were 890 institutions that were involved in the IPO survey and the demand ratio was 255 to 1. The IPO offering amount is 37.5 billion won.
Our base case valuation of Daemyung Energy is target price of 28,784 won per share, which is 92% premium to the IPO price of 15,000 won.


Daemyung Energy

Daemyung Energy Bookbuilding Results