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

Englewood Lab IPO Preview (Part 2) - Valuation Analysis

Englewood Lab IPO Preview (Part 1) - CEO Presentation to Investors

Korea M&A Spotlight: Korea Kolmar Acquires a US Cosmetics Co.- Impact on the Englewood Lab IPO

Equity Bottom-Up

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/23610" target="_blank" data-smartkarma-citation="entities:23610:1">Englewood Lab (950140 KS)</a> started trading today. It is trading at 10,000 won right now, up 67% from the IPO price of 6,000 won.</strong> Our initial valuation analysis suggested an intrinsic value of around 9,700 won, so it is trading close to our intrinsic value.</li>
<li>However, we underestimated how much premium the market would place on this company on the fact that it is a leading cosmetics ODM company based in the US with nearly all of its customers based in North America. While there are many publicly…</li>
</ul>



Englewood Lab (950140 KS) started trading today. It is trading at 10,000 won right now, up 67% from the IPO price of 6,000 won. Our initial valuation analysis suggested an intrinsic value of around 9,700 won, so it is trading close to our intrinsic value.
However, we underestimated how much premium the market would place on this company on the fact that it is a leading cosmetics ODM company based in the US with nearly all of its customers based in North America. While there are many publicly…


Englewood Lab - Up Strong First Day of Trading