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

Aimed Bio IPO Book Building Results Analysis

Douglas Research Advisory

Equity Capital Markets

<ul>
<li>Our base case valuation of Aimedbio is implied market cap of 882 billion won or target price of 13,256 won per share over a one year view in 2026. </li>
<li>This represents 21% upside over a one year period. Our cumulative sales and operating profit estimates from 2025 to 2029 are 11.4% and 48.3% lower than the company's estimates, respectively.</li>
<li>Aimedbio is not an easy company to value. Core investment thesis of the company is that it has an excellent technologies for antibody-based therapeutics, primarily antibody-drug conjugates (ADCs).</li>
</ul>


Our base case valuation of Aimedbio is implied market cap of 882 billion won or target price of 13,256 won per share over a one year view in 2026. 
This represents 21% upside over a one year period. Our cumulative sales and operating profit estimates from 2025 to 2029 are 11.4% and 48.3% lower than the company's estimates, respectively.
Aimedbio is not an easy company to value. Core investment thesis of the company is that it has an excellent technologies for antibody-based therapeutics, primarily antibody-drug conjugates (ADCs).


Aimed Bio

Aimedbio IPO Valuation Analysis