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

Blue Dot: Li Ka-Shing Backed AI-Powered Startup Warned About Wuhan Virus Before WHO Warning

Flitto: AI-Driven, Big Data Langugage & Translation Services

Duzonbizon: Cloud-Based Software Providing an Edge Amidst COVID-19 Carnage

Digital Finance in Korea: New Laws Coming in 2020 & Credit Bureau Industry

Asian E-Wallets Plant Their Flags: An In-Depth Analysis of the Top-10 Players

Equity Capital Markets

<ul>
<li>A company called Saltlux is getting ready for an IPO in the Korean stock market in July. Established in 2000, Saltlux has been one of the leading companies in the field of AI and Big Data in Korea in the past 20 years. The company launched an AI platform called ADAM in 2016. </li>
<li>The IPO price range is from 24,000 won to 30,000 won. According to the bankers' valuation, the expected market cap after the IPO is from 123 billion won to 153 billion won. The company expects to raise from $14.6 million to $18.3 million in this IPO. </li>
<li>
How the Bankers Priced the IPO - The bankers used five comps including three Korean companies (Wise ITech, Laon People, and Namu Tech) and two U.S. companies (Akamai Technologies and Citrix Systems). Applying the average comps P/E of 31.7x results in an implied price of 37,685 won. After applying an additional IPO discount of 20.39% - 36.31%, this results in an IPO price range of 24,000 won to 30,000 won (123 billion won to 153 billion won in implied market cap). </li>
</ul>


A company called Saltlux is getting ready for an IPO in the Korean stock market in July. Established in 2000, Saltlux has been one of the leading companies in the field of AI and Big Data in Korea in the past 20 years. The company launched an AI platform called ADAM in 2016. 
The IPO price range is from 24,000 won to 30,000 won. According to the bankers' valuation, the expected market cap after the IPO is from 123 billion won to 153 billion won. The company expects to raise from $14.6 million to $18.3 million in this IPO. 

How the Bankers Priced the IPO - The bankers used five comps including three Korean companies (Wise ITech, Laon People, and Namu Tech) and two U.S. companies (Akamai Technologies and Citrix Systems). Applying the average comps P/E of 31.7x results in an implied price of 37,685 won. After applying an additional IPO discount of 20.39% - 36.31%, this results in an IPO price range of 24,000 won to 30,000 won (123 billion won to 153 billion won in implied market cap). 


Korea Investment Holdings Co, Ltd. (071050 KS)

솔트룩스 IPO 미리보기: 한국 AI/빅데이터 분야의 합법적인 기업