In today’s briefing:
- Fadu IPO Book Building Results Analysis
Fadu IPO Book Building Results Analysis
- Fadu’s IPO price has been confirmed at 31,000 won (top end of the IPO valuation range). A total of 1,082 institutions participated, with a demand ratio of 362.9 to 1.
- Fadu is one of the biggest IPOs in Korea so far in 2023.
- Our base case valuation analysis suggests implied market cap of 2.2 trillion won or 43,676 won per share, which represents 41% higher than the IPO price.
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