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

TXR Robotics: IPO Book Building Results Analysis

Robotis IPO Preview (Part 1) - An Innovative Provider of Robotic Solutions in Korea

Robotis IPO Preview (Part 2) - Valuation Analysis

2025 ("Year of the Snake") Major IPOs Pipeline in Korea

Douglas Research Advisory

Equity Capital Markets

<ul>
<li>According to our valuation analysis, it suggests a base case implied price of 19,673 won per share (46% higher than the high end of the IPO price range).</li>
<li>Our base case valuation is based on target P/S of 5.4x using our estimated sales of 57.7 billion won.</li>
<li>To value TXR Robotics, the target P/S of 5.4x is based on a 30% discount to the comps' valuation multiple.</li>
</ul>


According to our valuation analysis, it suggests a base case implied price of 19,673 won per share (46% higher than the high end of the IPO price range).
Our base case valuation is based on target P/S of 5.4x using our estimated sales of 57.7 billion won.
To value TXR Robotics, the target P/S of 5.4x is based on a 30% discount to the comps' valuation multiple.


TXR Robotics

TXR Robotics IPO Valuation Analysis