Doosan is showing strength. This is interpreted as being influenced by expectations of a successful listing of its subsidiary, Doosan Robotics.
As of 10:12 AM on the 12th, Doosan is trading at 152,500 KRW, up 2.28% compared to the previous day. The stock closed with a strong gain of around 27% the day before and rose about 9% on the 8th.
Yang Ji-hwan, a researcher at Daishin Securities, stated in a report on the day, "Doosan's net asset value is estimated at 5.1 trillion KRW," adding, "This is based on Doosan's standalone business operating value (829 billion KRW), equity value (5 trillion KRW), and net debt (760 billion KRW)."
He continued, "The equity value of Doosan Robotics, reflected in the calculation of Doosan's equity value, was applied at 928 billion KRW by considering the corporate value at the lower end of the public offering price range of 1.3 trillion KRW and Doosan's post-listing stake of 68.2%. Using the sum-of-the-parts (SOTP) valuation method, the target stock price was calculated at 190,000 KRW."
He explained, "Doosan Robotics is the number one domestic and fourth largest global collaborative robot specialist company, possessing 13 product lines, which is significantly more than global competitors, so sales growth is expected. Considering the recent market capitalization trends of robot-related stocks, there is a high possibility that Doosan Robotics' stock price will rise after listing, and the target stock price may be revised upward."
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