In today’s briefing:
- Seoul Guarantee Insurance IPO: Valuation Insights
Seoul Guarantee Insurance IPO: Valuation Insights
- Seoul Guarantee Insurance (031210 KS), a leading guarantee provider in Korea, is pre-marketing an IPO to raise up to KRW362 billion (US$272 million).
- We previously discussed the IPO in Seoul Guarantee Insurance IPO: The Bull Case and Seoul Guarantee Insurance IPO: The Bear Case.
- In this note, we look at the syndicate’s valuation methodology. Our valuation analysis suggests that the IPO price range is unattractive, and we would pass on the IPO.
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