Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>Our target price of Almac is 58,573 won per share, which is 30% higher than the high end of the IPO price range of 45,000 won. </li>
<li>Our target price is based on 14.8x P/E using our estimated net profit of 25.4 billion won in 2024. </li>
<li>Almac ranks first in domestic market share (Korea) in the aluminum extruded module cases that protect batteries from external shocks.</li>
</ul>


Our target price of Almac is 58,573 won per share, which is 30% higher than the high end of the IPO price range of 45,000 won. 
Our target price is based on 14.8x P/E using our estimated net profit of 25.4 billion won in 2024. 
Almac ranks first in domestic market share (Korea) in the aluminum extruded module cases that protect batteries from external shocks.


<ul>
<li>Almac is getting ready to complete its IPO on KOSDAQ in June. Almac is one of the leading aluminum parts company for the electric vehicles. </li>
<li>The company ranks first in domestic market share in the aluminum extruded module cases that protect batteries from external shocks.</li>
<li>The company is offering 1 million new shares in this IPO. The IPO price range is from 40,000 won to 45,000 won.</li>
</ul>


Almac is getting ready to complete its IPO on KOSDAQ in June. Almac is one of the leading aluminum parts company for the electric vehicles. 
The company ranks first in domestic market share in the aluminum extruded module cases that protect batteries from external shocks.
The company is offering 1 million new shares in this IPO. The IPO price range is from 40,000 won to 45,000 won.


South Korea

Nara Mold & Die Co., Ltd. manufactures mold products used for producing automobile parts and home appliance parts, such as clutch plate, panel seat, front panel, and frame of air conditioner.  Nara also manufactures gasket products.

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Nara Mold & Die (051490 KS)

Almac IPO Valuation Analysis

Our target price of Almac is 58,573 won per share, which is 30% higher than the high end of the IPO price range of 45,000 won.

Douglas Kim

Almac IPO Preview

Almac is getting ready to complete its IPO on KOSDAQ in June. Almac is one of the leading aluminum parts company for the electric vehicles.

Douglas Kim

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