Initial Thoughts on Golfzon County IPO: Impact on Golfzon Newdin Holdings

727 Views03 Jan 2023 22:38

SUMMARY

In this insight, we discuss our initial thoughts on the Golfzon County IPO which is likely in 1H 2023.
As of September 2022, Golfzon County owned and operated 18 golf courses and 387 holes, the largest in Korea.
Golfzon Newdin owns a 43.2% in Golfzon County. We estimate Golfzon Newdin's market cap to be 273 billion won or 6,369 won per share, representing a 44% upside.

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