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

SpaceX IPO Shares Distribution in Korea & Impact on Aerospace/Other Related Stocks in Korea

Shinyoung Securities: Cancellation of 32% of Outstanding Shares, Representing 1 Trillion Won

SpaceX Tactical Outlook: SHORT The Mega-Cap Debut

Magnificent 12 Companies in Korea (Beneficiaries of SpaceX IPO) To Become Dirty Dozen?

Douglas Research Advisory

Equity Capital Markets

<ul>
<li>SpaceX is preparing to raise at least $75 billion at a valuation of nearly $1.75 trillion to $2.0 trillion. </li>
<li>My base case valuation of SpaceX is market cap of $1.6 trillion over one year. My valuation sensitivity analysis suggests a valuation range from $1.3 trillion to $1.9 trillion. </li>
<li>I would not subscribe to SpaceX at a valuation range of $1.75 trillion to $2.0 trillion. Rather, you could purchase Samsung Electronics (005930 KS) at a P/E of 7x, instead.</li>
</ul>


SpaceX is preparing to raise at least $75 billion at a valuation of nearly $1.75 trillion to $2.0 trillion. 
My base case valuation of SpaceX is market cap of $1.6 trillion over one year. My valuation sensitivity analysis suggests a valuation range from $1.3 trillion to $1.9 trillion. 
I would not subscribe to SpaceX at a valuation range of $1.75 trillion to $2.0 trillion. Rather, you could purchase Samsung Electronics (005930 KS) at a P/E of 7x, instead.


SpaceX

SpaceX IPO Valuation Analysis