In today’s briefing:
- Millie’s Library IPO Valuation Analysis
- ECM Weekly (6th Nov 2022) – Giant Biogene, Blibli, Betagro, Bionote, Fusion, Medanta, Bikaji, Axis
Millie’s Library IPO Valuation Analysis
- Our base case valuation of the company is target price of 26,404 won per share, which represents 6% higher than the high end of the IPO price range.
- Given the low upside, we have a Negative view of this IPO.
- All in all, while we believe Millie’s Library is a solid company with excellent fundamentals, the IPO price range is not valued at meaningful discount to the intrinsic value.
ECM Weekly (6th Nov 2022) – Giant Biogene, Blibli, Betagro, Bionote, Fusion, Medanta, Bikaji, Axis
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- On the IPO front, a number of companies in India have launched thier IPOs recently, even as HK and rest of Asia remains dormant.
- The only notable placement this week was the selldown in Axis Bank Ltd (AXSB IN) by Bain Capital.
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