[Alpha Biz=(Chicago) Reporter Kim Jisun] Executives and employees of Millie, the No. 1 e-book subscription platform, are expected to make profits of up to 1,400% through stock purchase options (stock options).

Millie announced on the 10th that it will issue 280,900 new shares as a stock option event. It is 3.5% of the total issued shares (8.11 million shares).

The stock options held are two to four out of a total of six, with 190,900 shares of 1,500 won for the event and 90,000 shares of 3,000 won for the event. Thirty-five employees (duplicated) and one outside expert exercised stock options.

Millie was listed on the KOSDAQ market on September 27 at a public offering price of 23,000 won. Last year, it also challenged to be listed on the KOSDAQ, but withdrew its listing plan, saying it was difficult to properly evaluate its corporate value.

Millie soared 57,600 won on the first day of listing and is being traded at the public offering price level. If the stock option volume is sold at the current stock price, the total profit will reach about 5.9 billion won. In other words, employees at the second and third events earn up to 1,400 percent of their profits and an average of 169 million won per employee.

In addition to this stock option, Millie has 259,500 eventable stocks left. Stock options for five to six sessions are also expected to make significant profits as the event prices are 7,000 won and 12,810 won, respectively. Most of these stock options were issued before they were acquired by Genie Music under KT Group in September 2021.

Established in 2016, Millie quickly increased its number of executives and employees to 11 in 2017, 30 in 2018 and 65 in 2019, according to the securities report. The number of employees as of the first half of this year is 148.

[ⓒ AlphaBIZ. 무단전재-재배포 금지]