Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>Our base case valuation of Gigavis IPO is target price of 61,755 won per share, representing 56% higher than the high end of the IPO price range.</li>
<li>We estimate the company to generate sales of 126.6 billion won (up 27% YoY) in 2023 and 150.9 billion won (up 19.2% YoY) in 2024.</li>
<li>Our base case valuation is based on 21.8x P/E using our estimated net profit of 35.9 billion won in 2023.</li>
</ul>


Our base case valuation of Gigavis IPO is target price of 61,755 won per share, representing 56% higher than the high end of the IPO price range.
We estimate the company to generate sales of 126.6 billion won (up 27% YoY) in 2023 and 150.9 billion won (up 19.2% YoY) in 2024.
Our base case valuation is based on 21.8x P/E using our estimated net profit of 35.9 billion won in 2023.


<ul>
<li>Gigavis is offering 2.22 million shares in this IPO. The expected market cap of the IPO is from 436 billion won to 503 billion won.</li>
<li>The maximum IPO offering amount is 88.1 billion won. The IPO price is between 34,400 won to 39,700 won.</li>
<li>Gigavis makes automatic optical repair equipment (AOR) for the semiconductor industry. </li>
</ul>


Gigavis is offering 2.22 million shares in this IPO. The expected market cap of the IPO is from 436 billion won to 503 billion won.
The maximum IPO offering amount is 88.1 billion won. The IPO price is between 34,400 won to 39,700 won.
Gigavis makes automatic optical repair equipment (AOR) for the semiconductor industry. 


South Korea

Park Systems Corp. designs and manufactures atomic force microscopes for industrial and scientific research purpose.

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Park Systems (140860 KS)

Gigavis IPO Valuation Analysis

Our base case valuation of Gigavis IPO is target price of 61,755 won per share, representing 56% higher than the high end of the IPO price range.

Douglas Kim

Gigavis IPO Preview

Gigavis, a maker of AOI equipment for semiconductor industry, is offering 2.22 million shares in this IPO. The expected market cap of the IPO is...

Douglas Kim

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