Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>Our base case valuation of Model Solution is implied market cap of 156 billion won and target price of 24,417 won. </li>
<li>The IPO valuation range is from 24,000 won to 27,000 won and our target price would be close to the low end of the IPO price range.</li>
<li>Given the low upside relative to the IPO price range, we have a Negative view of this IPO. </li>
</ul>


Our base case valuation of Model Solution is implied market cap of 156 billion won and target price of 24,417 won. 
The IPO valuation range is from 24,000 won to 27,000 won and our target price would be close to the low end of the IPO price range.
Given the low upside relative to the IPO price range, we have a Negative view of this IPO. 


Model Solution

Model Solution IPO Valuation Analysis