Dongbang Medical IPO Book Building Results Analysis
Dongbang Medical reported excellent IPO book building results. The IPO price has been finalized at 10,500 won. The demand ratio from the institutional investors was 910 to 1.
Our base case valuation of Dongbang Medical is target price of 13,609 won per share which is 30% higher than the IPO price of 10,500 won.
Dongbang Medical specializes in the manufacturing and distribution of acupuncture needles, various cosmetic devices, and other medical devices.
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