In today’s briefing:
- SK Pharmteco Pre-IPO Funding & Impact on SK Inc
SK Pharmteco Pre-IPO Funding & Impact on SK Inc
- SK Pharmteco is currently 100% owned by SK Inc. It is one of the largest CMO players in Korea. SK Pharmteco is trying to raise nearly 600 billion won.
- SK Pharmteco is seeking valuation of about 5 trillion won which is much higher than its book value of 1.65 trillion won.
- Our NAV valuation of SK Inc suggests an implied NAV of 21.2 trillion won or 286,636 won per share, representing 75% upside from current levels.
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