Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/cowintech-co-ltd" target="_blank" data-smartkarma-citation="entities:28145:1" rel="noopener">Cowintech Co Ltd (282880 KS), </a>which focuses on smart factory automation systems, is expected to be listed on the KOSDAQ market in early August. Established in 1998, Cowintech supplies automation systems to mainly rechargeable batteries manufacturers as well as to companies in other industries including petrochemicals, semiconductors, displays, automobiles, environment, healthcare, and energy. The lead banker in this deal is Mirae Asset Daewoo Securities. The IPO price range is 28,400 won to 34,500 won. The expected market cap range is from 260 billion won to 316 billion won. The IPO book opens for the institutional investors on July 18th. The company is issuing new shares (2 million) in this IPO. Cowintech has experienced very strong growth in sales and profits in the past three years. From 2016 to 2018, the company's sales jumped 74.6% CAGR. Its sales also surged 128.8% YoY to 20 billion won in 1Q19. The company's operating margin also jumped from 5.6% in 2017 to 13.7% in 2018 to 32.9% in 1Q19.

Cowintech Co Ltd (282880 KS), which focuses on smart factory automation systems, is expected to be listed on the KOSDAQ market in early August. Established in 1998, Cowintech supplies automation systems to mainly rechargeable batteries manufacturers as well as to companies in other industries including petrochemicals, semiconductors, displays, automobiles, environment, healthcare, and energy. The lead banker in this deal is Mirae Asset Daewoo Securities. The IPO price range is 28,400 won to 34,500 won. The expected market cap range is from 260 billion won to 316 billion won. The IPO book opens for the institutional investors on July 18th. The company is issuing new shares (2 million) in this IPO. Cowintech has experienced very strong growth in sales and profits in the past three years. From 2016 to 2018, the company's sales jumped 74.6% CAGR. Its sales also surged 128.8% YoY to 20 billion won in 1Q19. The company's operating margin also jumped from 5.6% in 2017 to 13.7% in 2018 to 32.9% in 1Q19.

Cowintech IPO Preview - Focus on Smart Factory Automation Systems