bearish
Doosan Robotics IPO: Valuation Insights
844 Views31 Aug 2023 16:01
In this note, we look at the syndicate's valuation methodology. Our valuation analysis suggests that the IPO price range is unattractive, and we would pass on the IPO.
Boomeranged on Wed, 6 Sep 2023 16:18
The syndicate has disclosed an additional valuation methodology based on peers’ trailing P/S multiple in an updated prospectus. The P/S methodology results in a lower price range of KRW19,000-24,000 vs. the previous P/E derived range of KRW21,000-26,000. The P/E-derived range remains the preferred metric as it reflects “the costs and other cost structures that affect the value of a company.”
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