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

Open Edges Technology IPO Valuation Analysis

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Capital Markets

Openedges Technology / Equity Capital Markets

<ul>
<li>Openedges Technology (394280 KS) announced its IPO book building results. The IPO price has been determined at 10,000 won (33% lower than the low end of the IPO range).</li>
<li>We maintain our Positive View on this IPO but we lowered our base case valuation by 33% to 16,542 won per share, representing a 65% upside from the IPO price.</li>
<li>Open Edges Technology is a system semiconductor IP specialist with one of the world's only integrated AI semiconductor design asset IP platform. Its sales increased by 376% YoY in 2021.</li>
</ul>


Openedges Technology (394280 KS) announced its IPO book building results. The IPO price has been determined at 10,000 won (33% lower than the low end of the IPO range).
We maintain our Positive View on this IPO but we lowered our base case valuation by 33% to 16,542 won per share, representing a 65% upside from the IPO price.
Open Edges Technology is a system semiconductor IP specialist with one of the world's only integrated AI semiconductor design asset IP platform. Its sales increased by 376% YoY in 2021.


Open Edges Technology IPO Book Building Results