Newcomer ‘Millie’s Study’ Stock Surges on First Day of KOSDAQ Listing
Revival Predicted for IPO Market as Millie Study Sets the Pace
Kim Jin-seok, Money Today Reporter | September 27, 2023, 16:06
The stock of Millie’s Study, a newcomer in the market, soared by 80.87% on its first day of listing on the KOSDAQ. This increase, combined with a rise in initial public offerings (IPOs), has sparked predictions of a revival in the IPO stock market during the second half of the year. Investors are eagerly anticipating the potential for new stocks to quadruple in value on their first day of trading.
On September 27th, Millie’s Study closed at 41,600 won, marking an 80.87% increase from its public offering price of 23,000 won. At its peak, the stock reached 57,600 won, reflecting a remarkable 150.1% surge compared to the previous year.
Founded in 2016, Millie’s Study is a reading platform company widely recognized for introducing Korea’s first monthly e-book subscription service. The platform has gained significant popularity by offering a diverse range of multimedia content, including audio books, audio plays, and conversation books, attracting a large base of subscribers.
During the demand forecast for institutional investors between the 7th and 13th of this month, Millie’s Study confirmed its public offering price at the upper end of the desirable band, set at 23,000 won. Subsequently, during the public subscription for general investors, the competition rate reached an impressive 449.56 to 1, with a calculated subscription margin of 1.9387 trillion won.
Analysts in the securities market predict that Millie’s Study will maintain smooth operations for the foreseeable future. The platform’s monthly conversion rate for paid subscriptions reached 37.4% in the first half of this year, while the re-subscription rate during the same period stood at 87.6%, indicating a continuous upward trend.
This positive performance is also reflected in their financial results. Millie’s Study witnessed a sales increase of 58.8% compared to the same period last year, reaching 45.8 billion won, and successfully achieved an operating profit of 4.17 billion won, turning the company into a profitable venture. DB Financial Investment researcher Shin Eun-jeong remarked, “We anticipate continued strong performance in the second half of this year, and new business ventures are expected to contribute to future profits.”
With plans to expand their presence in the publishing industry, Millie’s Study aims to secure original Intellectual Property (IP) rights through the launch of the ‘Millie Road’ publishing platform. Additionally, the company intends to venture into the romance novel market on the web by introducing a genre-specific platform later this year.
Stock Market Outlook: Anticipation Grows for Upcoming IPOs
Doosan Robotics and Seoul Guarantee Insurance among Promising New Listings
As the stock market faces sluggishness, the recent success of Millie’s Study has generated interest in companies preparing to go public. Doosan Robotics, scheduled for listing on the KOSPI market next month, achieved a subscription margin of 33.1 trillion won and a competition rate of 524.01 to 1 during their general public offering, which was open until the 22nd of this month.
Seoul Guarantee Insurance, with an estimated corporate value of approximately 3 trillion won, is also set to forecast demand and subscription rates for general investors next month. Furthermore, EcoPro Materials, a member of the EcoPro Group that played a significant role in the advancement of secondary battery technology in the first half of this year, has passed the preliminary screening for listing and is actively preparing for its upcoming IPO, with a target listing date in mid-November.
If these trillion-dollar deals continue to succeed, the IPO market is expected to experience a renewed sense of excitement. Shinhan Investment & Securities researcher Choi Yu-jun acknowledges the current market sentiment, stating, “Despite the overall depressed atmosphere, the public stock market is demonstrating a positive trend with the emergence of major IPOs.” The researcher adds, “The influx of capital is projected to maintain this positive sentiment in the market.”
Unlike previous pre-public stocks that mainly focused on industries such as rechargeable batteries and semiconductors, the entrance of diverse industries is expected to inject vitality into the IPO market. Choi further notes, “As we enter the fourth quarter, various industries including healthcare and robotics are anticipated to emerge,” and concludes that alternative investment methods will also positively impact market dynamics.
[Copyright @Money Today, Unauthorized Reproduction and Redistribution Prohibited]
Money Today Reporter Kim Jin-seok | 2023.09.27 16:06
Newcomer ‘Millie’s Study’ stock rose 80.87% from the offer price on the first day of listing on KOSDAQ. With the Millie Study signaling an increase in IPOs (initial public offerings), predictions are emerging that the IPO stock market could revive in the second half of the year. Investor expectations are high as the stock price of new stocks can rise up to four times the public offering price on the first day of listing.
On the KOSDAQ market on the 27th, Millie Study closed at 41,600 won, an increase of 18,600 won (80.87%) from the public offering price (23,000 won) It increased to 57,600 won in the early days of the market, the offer public It is an increase of 150.1% compared to the previous year.
Millie’s Library is a reading platform company founded in 2016. It attracted the attention of the market by providing Korea’s first monthly e-book subscription service. As a result, the composition of multimedia content such as audio books, audio plays, and conversation books (including conversation type reading) was increased, attracting great response from subscribers.
The Millie Study previously confirmed the public offering price of 23,000 won, the upper end of the desirable band, in a demand forecast for institutional investors held between the 7th and the 13th. In the subsequent public subscription to general investors, the competition rate was 449.56 to 1, and the subscription margin was calculated to be 1.9387 trillion won.
Securities analysts believe Millie Library will continue to operate smoothly for some time. This is because the number of paid subscriptions is increasing every month, confirming its position as the most popular reading platform. Jong-seon Park, a researcher at Eugene Investment & Securities, explained, “From the first half of this year, the average monthly subscription conversion rate was 37.4%,” and “The re-subscription rate during the same period is 87.6%, in continue to increase.”
As a result, performance growth is also robust. Last year, Millie Study’s sales increased by 58.8% compared to the same period last year, reaching KRW 45.8 billion, and its operating profit was KRW 4.17 billion, successfully turning into a surplus. Shin Eun-jeong, a researcher at DB Financial Investment, said, “It is quite possible to achieve a good performance in the second half of this year,” and added, “We are also expected to contribute to profits from new businesses next year. “
Millie Library plans to secure original Intellectual Property (IP rights) by launching the ‘Millie Road’ publishing platform and expanding its business to best seller discovery and publishing. In addition, plans were announced to enter the romance novel market on the web by launching a genre platform within this year.
━
Big fish before listing… What is the stock market outlook?
━
Doosan Robotics Collaborative Robotics E-Series / Photo provided by Doosan Robotics Amid the sluggish stock market, interest in companies about to go public is growing naturally as the Millie Study shows a good upward trend. Doosan Robotics, which is scheduled to be listed on the KOSPI market next month, recorded a subscription margin of 33.1 trillion won and a competition rate of 524.01 to 1 in the general public offering held until the 22nd.
In addition, Seoul Guarantee Insurance, whose corporate value is estimated to be around 3 trillion won, is also preparing for forecasting demand and subscription to general investors next month. EcoPro Materials, the youngest member of the EcoPro Group, which led the secondary battery breakdown in the first half of the year, passed the preliminary screening for listing and preparations began in earnest. It is expected to be listed in mid-November after going through the public offering schedule next month.
If trillion-dollar deals are successful one after the other, it is expected that warmth will spread throughout the IPO market. Choi Yu-jun, a researcher at Shinhan Investment & Securities, observed, “The market atmosphere is depressed, but the public stock market is showing a good trend as large IPOs are coming out one by one.” He added, “The positive atmosphere due to the inflow of money is expected to continue.”
Unlike the previous pre-public stock, which focused on a few industries such as rechargeable batteries and semiconductors, the emergence of diverse industries is also a factor that will add vitality. Researcher Choi said, “Entering the fourth quarter, companies in various industries, including healthcare and robots, are expected to emerge,” and added, “We believe that the rise in alternatives and investment methods also have a positive effect.”
[저작권자 @머니투데이, 무단전재 및 재배포 금지]
#profit #day #Public #offering #stocks #strong #Whats #big #catch #listing
