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

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<p><a href="https://www.smartkarma.com/entities/enchem-co-ltd" target="_blank" data-smartkarma-citation="entities:34297:1" rel="noopener">Enchem (348370 KS) </a>is getting ready to complete its IPO in Korea in the next several weeks. The IPO price range is between 30,000 won and 35,000 won. The IPO base deal size is from $57 million to $67 million. According to the bankers' valuation, the expected market cap of the company post IPO is from 486 billion won to 567 billion won. The book building for the institutional investors starts on 15 October. The lead bankers on this deal include Daishin Securities and Shinhan Investment Securities. </p><table class="table table-striped">
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<td style="width: 181pt;"><div>Deal Specifics of Enchem IPO</div></td>
<td style="width: 287pt;"> </td>
</tr>
<tr>
<td>Lead underwriters of the IPO: </td>
<td style="width: 287pt;">Daishin Securities, Shinhan Investment Securities</td>
</tr>
<tr>
<td>Expected IPO price per share: </td>
<td style="width: 287pt;">30,000 won (low)/35,000 won (high)</td>
</tr>
<tr>
<td>Number of Shares for IPO:</td>
<td style="width: 287pt;">2.26m shares (new shares)</td>
</tr>
<tr>
<td>IPO base deal size: </td>
<td style="width: 287pt;">US$57mn (low);  US$67mn (high)</td>
</tr>
<tr>
<td>Expected common shares outstanding, fully diluted (post-IPO):  </td>
<td style="width: 287pt;">16.2m shares</td>
</tr>
<tr>
<td>Expected market cap after IPO:</td>
<td style="width: 287pt;">486 billion won (low)/567 billion won (high)</td>
</tr>
<tr>
<td>Book open: </td>
<td style="text-align: left; width: 287pt;">15-Oct-21</td>
</tr>
<tr>
<td>Book closed:</td>
<td style="text-align: left; width: 287pt;">18-Oct-21</td>
</tr>
<tr>
<td>Listing date: </td>
<td style="text-align: left; width: 287pt;">TBC</td>
</tr>
<tr>
<td>Source: Company data</td>
<td style="width: 287pt;"> </td>
</tr>
</tbody>
</table><p>Established in 2012, Enchem specializes in the development and manufacturing of electrolytes and high functionality additives for rechargeable batteries and (electric double layer capacitors) EDLCs. Electrolyte is one of the core materials of rechargeable batteries. Enchem was the first company in Korea to successfully commercialize electrolyte for electric vehicles. Major customers include LG Energy Solution, SK Innovation, and CATL. The company sells its products to three of the top five largest makers of rechargeable batteries in the world. </p>

Enchem (348370 KS) is getting ready to complete its IPO in Korea in the next several weeks. The IPO price range is between 30,000 won and 35,000 won. The IPO base deal size is from $57 million to $67 million. According to the bankers' valuation, the expected market cap of the company post IPO is from 486 billion won to 567 billion won. The book building for the institutional investors starts on 15 October. The lead bankers on this deal include Daishin Securities and Shinhan Investment Securities. 






Deal Specifics of Enchem IPO
 


Lead underwriters of the IPO: 
Daishin Securities, Shinhan Investment Securities


Expected IPO price per share: 
30,000 won (low)/35,000 won (high)


Number of Shares for IPO:
2.26m shares (new shares)


IPO base deal size: 
US$57mn (low);  US$67mn (high)


Expected common shares outstanding, fully diluted (post-IPO):  
16.2m shares


Expected market cap after IPO:
486 billion won (low)/567 billion won (high)


Book open: 
15-Oct-21


Book closed:
18-Oct-21


Listing date: 
TBC


Source: Company data
 


Established in 2012, Enchem specializes in the development and manufacturing of electrolytes and high functionality additives for rechargeable batteries and (electric double layer capacitors) EDLCs. Electrolyte is one of the core materials of rechargeable batteries. Enchem was the first company in Korea to successfully commercialize electrolyte for electric vehicles. Major customers include LG Energy Solution, SK Innovation, and CATL. The company sells its products to three of the top five largest makers of rechargeable batteries in the world. 

Enchem

Enchem IPO Preview