In today’s briefing:
- Millie’s Library IPO Valuation Analysis
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.
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