Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

Equity Capital Markets

Mobile Appliance / Equity Capital Markets

This is a pretty small IPO (market cap of about US$50mil), but this nevertheless has some interesting growth stories. In particular, the company's PND (portable navigation device) is strongly linked to self-driving (autonomous driving) cars. That is, the company not only has a solid business foundation but also it has some sexy growth stories that may excite a lot of investors. It will actually start trading today (Feb 24), and its IPO price (₩3,500) is widely believed to be set at a reasonably low level (10x P/E for 2016 earnings and 6-7x P/E for 2017 earnings) even though the IPO price was set at the upper end of indicative price band.Let's now take a look at this company and several key issues related to this IPO:

This is a pretty small IPO (market cap of about US$50mil), but this nevertheless has some interesting growth stories. In particular, the company's PND (portable navigation device) is strongly linked to self-driving (autonomous driving) cars. That is, the company not only has a solid business foundation but also it has some sexy growth stories that may excite a lot of investors. It will actually start trading today (Feb 24), and its IPO price (₩3,500) is widely believed to be set at a reasonably low level (10x P/E for 2016 earnings and 6-7x P/E for 2017 earnings) even though the IPO price was set at the upper end of indicative price band.Let's now take a look at this company and several key issues related to this IPO:

Mobile Appliance IPO Summary - Small But Beauty, Start Trading Today