In today’s briefing:
- Millie’s Library IPO Preview
- KOSPI 200 Index Review: Names Subject to Float Rate Adjustment
Millie’s Library IPO Preview
- 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%.
KOSPI 200 Index Review: Names Subject to Float Rate Adjustment
- We have seven constituents of KOSPI 200, which are subject to a float rate adjustment due to major shareholder stake sales and lockup release in the upcoming rebalancing in December
- In terms of passive impact x ADTV, LG Energy Solution, KT Corp, and Shinhan Financial are expected to receive the most attention from flow traders.
- The preemptive setups of flow traders will likely be more inclined toward these float rate changes since this December rebalance will have the lowest number of constituent changes ever.
💡 Before it’s here, it’s on Smartkarma
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