Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

EcoPro Materials / Equity Capital Markets

<ul>
<li>Ecopro Materials, an affiliate of Ecopro, is getting ready to complete its IPO in 2H 2023. Ecopro Co has a 52.8% stake in Ecopro Materials. </li>
<li>Ecopro Materials' core products are lithium cell core materials called precursors, which are used as part of the rechargeable batteries. </li>
<li>The expected market value of Ecopro Materials is about 3 trillion won to 4 trillion won (US$2.3 billion to US$3.0 billion).</li>
</ul>


Ecopro Materials, an affiliate of Ecopro, is getting ready to complete its IPO in 2H 2023. Ecopro Co has a 52.8% stake in Ecopro Materials. 
Ecopro Materials' core products are lithium cell core materials called precursors, which are used as part of the rechargeable batteries. 
The expected market value of Ecopro Materials is about 3 trillion won to 4 trillion won (US$2.3 billion to US$3.0 billion).


Initial Thoughts on the Ecopro Materials IPO

Equity Bottom-Up

<ul>
<li>In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024. </li>
<li>The top 20 market cap rechargeable battery related stocks in Korea are down on average 15.9% YTD, underperforming KOSPI which is down 6.7% in the same period.</li>
<li>Many rechargeable battery related names in Korea continue to have lofty valuations. The 20 rechargeable battery names are trading at median P/E of 79.7x in 2023 and 39x in 2024.</li>
</ul>


In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024. 
The top 20 market cap rechargeable battery related stocks in Korea are down on average 15.9% YTD, underperforming KOSPI which is down 6.7% in the same period.
Many rechargeable battery related names in Korea continue to have lofty valuations. The 20 rechargeable battery names are trading at median P/E of 79.7x in 2023 and 39x in 2024.


A Sharp Downturn in Price Momentum of Rechargeable Battery Stocks in Korea in January 2024

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EcoPro Materials (450080 KS)

Initial Thoughts on the Ecopro Materials IPO

Ecopro Materials, an affiliate of Ecopro, is getting ready to complete its IPO in 2H 2023. The expected market value of Ecopro Materials is about 3...

Douglas Kim

A Sharp Downturn in Price Momentum of Rechargeable Battery Stocks in Korea in January 2024

In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024.

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)