Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>Millie's Library is trying to complete its IPO again in September 2023, after a failed attempt in November 2022. The IPO price range is from 20,000 won to 23,000 won.</li>
<li>Founded in 2016, Millie's Library is a reading platform company that introduced the first monthly e-book subscription service in Korea in October 2017. </li>
<li>Our valuation analysis suggests base case target price of 31,769 won per share, which is 38% higher than the high end of the IPO price range of 23,000 won.</li>
</ul>


Millie's Library is trying to complete its IPO again in September 2023, after a failed attempt in November 2022. The IPO price range is from 20,000 won to 23,000 won.
Founded in 2016, Millie's Library is a reading platform company that introduced the first monthly e-book subscription service in Korea in October 2017. 
Our valuation analysis suggests base case target price of 31,769 won per share, which is 38% higher than the high end of the IPO price range of 23,000 won.


<ul>
<li>Millie's Library is getting ready to complete its IPO on the KOSDAQ exchange in November. The IPO price range is from 21,500 won to 25,000 won per share.</li>
<li>Millie's Library is the largest platform for e-books subscription in Korea. The major shareholder of Millie's Library is Genie Music Corp (an affiliate of KT Group) with a 38.63% stake. </li>
<li>The company started to generate positive operating margin in 1H 2022 when it had sales of 21.1 billion won (up 66.1% YoY) and operating margin of 5%.</li>
</ul>


Millie's Library is getting ready to complete its IPO on the KOSDAQ exchange in November. The IPO price range is from 21,500 won to 25,000 won per share.
Millie's Library is the largest platform for e-books subscription in Korea. The major shareholder of Millie's Library is Genie Music Corp (an affiliate of KT Group) with a 38.63% stake. 
The company started to generate positive operating margin in 1H 2022 when it had sales of 21.1 billion won (up 66.1% YoY) and operating margin of 5%.


South Korea

Genie Music Corporation provides online music services. The Company offers music in various categories such as rock, pop, jazz, classic, and music videos. Genie Music provides services in South Korea.

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Genie Music Corp (043610 KS)

Millie's Library IPO Analysis

Millie's Library is trying to complete its IPO again in September 2023, after a failed attempt in November 2022. The company lowered the IPO price...

Douglas Kim

Millie's Library IPO Preview

Millie's Library is the largest platform for e-books subscription in Korea. Millie's Library is getting ready to complete its IPO on the KOSDAQ...

Douglas Kim

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