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

JX Advanced Metals IPO Valuation Analysis

JX Advanced Metals (5016 JP): IPO Fast-Entry 30% Away; Index Review Inclusion in Aug & Sep 2025

JX Advanced Metals (5016 JP) IPO: Price Range Is Fair

Douglas Research Advisory

Equity Capital Markets

JX Advanced Metals / Equity Capital Markets

<ul>
<li>JX Advanced Metals raised 438.6 billion yen (US$3 billion) on its IPO offering after pricing the IPO at 820 yen per share, valuing the company at 761.3 billion yen. </li>
<li>Our base case valuation of JX Advanced Metals is price per share of 863 yen, based on P/E of 9.9x using our estimated net profit of 81 billion yen (2026E).</li>
<li>Therefore, we would sell into strength if the share price of JX Advanced Metals rises to the 863 yen to 1,044 yen per share.</li>
</ul>


JX Advanced Metals raised 438.6 billion yen (US$3 billion) on its IPO offering after pricing the IPO at 820 yen per share, valuing the company at 761.3 billion yen. 
Our base case valuation of JX Advanced Metals is price per share of 863 yen, based on P/E of 9.9x using our estimated net profit of 81 billion yen (2026E).
Therefore, we would sell into strength if the share price of JX Advanced Metals rises to the 863 yen to 1,044 yen per share.


JX Advanced Metals

JX Advanced Metals IPO Trading