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

SM Line IPO: Offering Terms, Valuation Details, & Risk Analysis

Equity Capital Markets

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<p>SM Line Corp is getting ready to complete its IPO in the KOSDAQ exchange in the next few weeks. This is the first shipping (marine transportation) company IPO in Korea in 14 years. SM Line Corp is trying to capitalize on the highly bullish environment for shipping companies globally.</p>
<p>The IPO price range is from 18,000 won to 25,000 won. At the high end of the IPO price range, the implied market cap of the company is 2.1 trillion won. The IPO offering amount range is from 609 billion won to 846 billion won. The book building for the institutional investors starts on 1 November. The lead underwrite of the IPO is NH Investment &amp; Securities. </p>
<p>The company plans to use the<a href="https://pulsenews.co.kr/view.php?year=2021&amp;no=826592" target="_blank" rel="noopener"> IPO proceeds</a> to purchase more eco-friendly, green vessels to better respond to stricter carbon emission rules to be applied from 2022. It is also considering on buying used vessels that can be used immediately to capitalize on the current global ship shortages. </p>
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SM Line Corp is getting ready to complete its IPO in the KOSDAQ exchange in the next few weeks. This is the first shipping (marine transportation) company IPO in Korea in 14 years. SM Line Corp is trying to capitalize on the highly bullish environment for shipping companies globally.
The IPO price range is from 18,000 won to 25,000 won. At the high end of the IPO price range, the implied market cap of the company is 2.1 trillion won. The IPO offering amount range is from 609 billion won to 846 billion won. The book building for the institutional investors starts on 1 November. The lead underwrite of the IPO is NH Investment &amp; Securities. 
The company plans to use the IPO proceeds to purchase more eco-friendly, green vessels to better respond to stricter carbon emission rules to be applied from 2022. It is also considering on buying used vessels that can be used immediately to capitalize on the current global ship shortages. 


SM Line Corp

SM Line Corp IPO Preview