Myungin Pharmaceutical IPO Bookbuilding Analysis
Myungin Pharm [Bullish]
Myungin Pharm's IPO price has been confirmed at 58,000 won, which is at the high end of the IPO price range.
A total of 2,028 domestic and foreign institutional investors participated in the IPO demand forecast. The demand ratio was 488.9 to 1.
Our base case valuation of Myungin Pharm is market cap of 1.2 trillion won, and target price of 80,349 won per share, which is 39% higher than the IPO price.
