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

KOSPI 200 and KOSDAQ 150 Indices Rebalance Announcements for June 2026

KOSDAQ150 Index Adhoc Rebalance: ITCenGlobal (124500) Could Replace UTI (179900) In 3 Days

KOSDAQ150 Index Adhoc Rebalance: Hyundai Hyms (460930 KQ) To Replace Higen RNM (160190 KQ)

KOSDAQ150 Index Adhoc Rebalance: Curiox Bio (445680 KQ) To Replace Mezzion Pharma (140410 KQ)

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li><em><strong>The real driver of ITCEN Global's sales, profits, and value is the Digital Asset and Web3 vertical, run partly through strategic holdings such as the Korea Gold Exchange. </strong></em></li>
<li>If we annualize the company's net profit in 1Q 2026, that would suggest annualized net profit of 291 billion won. </li>
<li>If we attach a 10x P/E on annualized net profit of 291 billion won, this would suggest market cap of 2.9 trillion won (136% higher than its current market cap).</li>
</ul>


The real driver of ITCEN Global's sales, profits, and value is the Digital Asset and Web3 vertical, run partly through strategic holdings such as the Korea Gold Exchange. 
If we annualize the company's net profit in 1Q 2026, that would suggest annualized net profit of 291 billion won. 
If we attach a 10x P/E on annualized net profit of 291 billion won, this would suggest market cap of 2.9 trillion won (136% higher than its current market cap).


한국 소형주 유망주 61위: ITCEN Global

ITCENGLOBAL

한국 소형주 유망주 61위: ITCEN Global