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

Shinheung SEC IPO Preview (Part 1) - Rechargeable Battery Components Producer

MPlus Corp IPO Preview (Part 1) - Rechargeable Batteries Assembly Equipment Manufacturer

The Fourth Industrial Revolution: A Boom, Bust, and a Boom

Equity Capital Markets

ITM Semiconductor Co Ltd / Equity Capital Markets

ITM Semiconductor is a tech IPO in Korea that is worth paying attention to. Established in 2000, <a href="https://www.smartkarma.com/entities/itm-semiconductor-co-ltd" target="_blank" data-smartkarma-citation="entities:28313:1" rel="noopener">ITM Semiconductor Co Ltd (084850 KS)</a> plans to complete its IPO on the KOSDAQ exchange in the next few weeks. The base case IPO deal ranges from $97 million to $110 million. It is expected that more than 75% of the IPO proceeds will be used to reduce the company's financial debt. The bankers' valuation initially appears quite reasonable. The company's core products include POC (Protection One Chip) and PMP (Protection Module Package) which are used in the lithium-ion battery and semiconductor industries. The company's products are used as a protection for the lithium-ion battery packs. PMP (Protection Module Package) is a protection circuit packaged as a module. The company's Protection Module Package can be applied for a variety of devices and can be applied for both plasmatic and polymer lithium-ion batteries. The company is a global leader in the PMP products segment. The company had sales of 127.6 billion won (up 33.1% YoY) and operating profit of 15.6 billion won (up 60.7% YoY) in 1H19, which were much better than the comps as well as the major IT companies in Korea.

ITM Semiconductor is a tech IPO in Korea that is worth paying attention to. Established in 2000, ITM Semiconductor Co Ltd (084850 KS) plans to complete its IPO on the KOSDAQ exchange in the next few weeks. The base case IPO deal ranges from $97 million to $110 million. It is expected that more than 75% of the IPO proceeds will be used to reduce the company's financial debt. The bankers' valuation initially appears quite reasonable. The company's core products include POC (Protection One Chip) and PMP (Protection Module Package) which are used in the lithium-ion battery and semiconductor industries. The company's products are used as a protection for the lithium-ion battery packs. PMP (Protection Module Package) is a protection circuit packaged as a module. The company's Protection Module Package can be applied for a variety of devices and can be applied for both plasmatic and polymer lithium-ion batteries. The company is a global leader in the PMP products segment. The company had sales of 127.6 billion won (up 33.1% YoY) and operating profit of 15.6 billion won (up 60.7% YoY) in 1H19, which were much better than the comps as well as the major IT companies in Korea. 

ITM Semiconductor Co Ltd

ITM Semiconductor IPO Preview