Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

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Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/mindslab-inc" target="_blank" data-smartkarma-citation="entities:34648:1" rel="noopener">Mindslab (377480 KS)</a> is getting ready to complete its IPO in Korea in November. The IPO price range is from 26,000 won to 30,000 won per share. The IPO base deal size is from $13 million to $15 million. According to the bankers' valuation, the expected market cap is from 169 billion won to 195 billion won. The book building for the institutional investors starts on 8 November 2021. </p><div class="content-highlight"><p>Established in 2014, Mindslab is a leading developer of AI virtual humans in Korea. <strong>In March 2021, Mindslab became one of the first companies in the world to create an AI based virtual (artificial) human (digital based) which can understand real human faces and voices with visual, auditory, language, and thinking intelligence.</strong></p></div><table class="table table-striped">
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<td style="text-align: left;"><div>Deal Specifics of Mind Lab IPO</div></td>
<td style="width: 368pt;"> </td>
</tr>
<tr>
<td>Lead underwriters of the IPO: </td>
<td style="width: 368pt;">NH Investment &amp; Securities, Hana Investment &amp; Securities</td>
</tr>
<tr>
<td>Expected IPO price per share: </td>
<td style="width: 368pt;">26,000 won (low)/30,000 won (high)</td>
</tr>
<tr>
<td>Number of Shares for IPO:</td>
<td style="width: 368pt;">604k shares (new shares)</td>
</tr>
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<td>IPO base deal size: </td>
<td style="width: 368pt;">US$13mn (low);  US$15mn (high)</td>
</tr>
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<td>Expected common shares outstanding, fully diluted (post-IPO):  </td>
<td style="width: 368pt;">6.49m shares</td>
</tr>
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<td>Expected market cap after IPO:</td>
<td style="width: 368pt;">169 billion won (low)/195 billion won (high)</td>
</tr>
<tr>
<td>Book open: </td>
<td style="text-align: left; width: 368pt;">8-Nov-21</td>
</tr>
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<td>Book closed:</td>
<td style="text-align: left; width: 368pt;">9-Nov-21</td>
</tr>
<tr>
<td>Listing date: </td>
<td style="text-align: left; width: 368pt;">TBC</td>
</tr>
<tr>
<td>Source: Company data</td>
<td style="width: 368pt;"> </td>
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Mindslab (377480 KS) is getting ready to complete its IPO in Korea in November. The IPO price range is from 26,000 won to 30,000 won per share. The IPO base deal size is from $13 million to $15 million. According to the bankers' valuation, the expected market cap is from 169 billion won to 195 billion won. The book building for the institutional investors starts on 8 November 2021. Established in 2014, Mindslab is a leading developer of AI virtual humans in Korea. In March 2021, Mindslab became one of the first companies in the world to create an AI based virtual (artificial) human (digital based) which can understand real human faces and voices with visual, auditory, language, and thinking intelligence.






Deal Specifics of Mind Lab IPO
 


Lead underwriters of the IPO: 
NH Investment &amp; Securities, Hana Investment &amp; Securities


Expected IPO price per share: 
26,000 won (low)/30,000 won (high)


Number of Shares for IPO:
604k shares (new shares)


IPO base deal size: 
US$13mn (low);  US$15mn (high)


Expected common shares outstanding, fully diluted (post-IPO):  
6.49m shares


Expected market cap after IPO:
169 billion won (low)/195 billion won (high)


Book open: 
8-Nov-21


Book closed:
9-Nov-21


Listing date: 
TBC


Source: Company data
 




Minds Lab IPO Preview - A Leading Creator of AI Virtual Humans in Korea