Innospace IPO Bookbuilding Results Analysis
Innospace reported solid IPO bookbuilding results. Innospace's IPO price has been determined at 43,300 won won, which is at the high end of the IPO price range.
Our base case valuation of Innospace is target price of 51,481 won per share (12 month view), which is 19% higher than the IPO price.
Innospace is involved in the satellite launch vehicle production and launch service business.
IPO Book Building Results
Innospace reported solid IPO bookbuilding results. Innospace's IPO price has been determined at 43,300 won won, which is at the high end of the IPO price range. A total of 2,159 institutional investors participated in this IPO book building. The demand ratio was 599 to 1. Innospace will start trading on 2 July.
A 25.3% of the IPO shares applied thought that the company's value is 43,300 won per share. A 71.4% of the IPO shares applied estimate the company's value to be more than 43,300 won. This is a bullish signal.A 2.5% of the IPO applied shares did not provide price levels.
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