Hyundai Engineering Co Ltd

Hyundai Engineering IPO: Valuation Insights

Equity Capital Markets
199 Views, 17 Jan 2022 22:56
EXECUTIVE SUMMARY
  • Hyundai Engineering Co Ltd (HEC KS) has launched its IPO to raise US$0.8-1.0 billion at the price range of KRW57,900-75,700 per share.
  • In Hyundai Engineering IPO Initiation: Building on Good Foundations, we stated that HEC has attractive fundamentals with a strong backlog, healthy book-to-bill, improving 3Q21 revenue growth and improving margins. 
  • In this note, we look at the syndicate's valuation methodology and present our valuation methodology. Our valuation analysis suggests that the IPO price range is unattractive. 
detail (4-minute read)
WHAT’S TRENDING
Insights
  • Trending
  • Latest
logo
Logo
Top 5%
Arun George
IPOs and Catalysts/Events
Global Equity Research Ltd
Information TechnologyEquitiesEquity Capital MarketsEvent-Driven

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start... 

Zoom:
NaN%
x