Competition rate 1167.55 to 1…KOSPI listed demand forecast 2nd in history
After spin-off from Samsung Electro-Mechanics, the public offering price of SoluM, an electronic parts maker aiming to be listed on the KOSPI, was confirmed to be 17,000 won, which exceeded the upper limit of the desired range. Initially, the proposed public offering price was 13,700 to 15,500 won.
SoluM announced on the 20th that it recorded a competition rate of 1167.55 to 1 in the demand forecast for institutional investors on the 14th and 15th. It is the second-largest competition rate ever in demand forecasts for listing on the KOSPI. The target of demand forecast for institutional investors was 3.84 million, or 60% of the total publicly offered stocks of 6.40 million.
Of the 1269 organizations that participated in the demand forecast, 87.1% submitted a price of 15,500 won or more at the top of the desired range. The percentage of submissions exceeding 15,500 won was 84.2%, and the percentage of obligated holdings that they would not sell stock for a certain period was 20.8%. The public offering price was confirmed at 17,000 won, and the total offering amount increased to 108.8 billion won.
SoluM’s general public offering subscription is conducted from 21 to 22 days for 1.28 million shares, which is 20% of the total public offering shares. Representative managers are Mirae Asset Daewoo and KB Securities, and co-directors are Hana Financial Investment and Shinhan Investment. Samsung Securities will participate in the acquisition team.
SoluM was founded by spin-off from Samsung Electro-Mechanics in 2015. Seong-ho Jeon, CEO of SoluM, said, “We highly appreciate the technology and future growth potential, and thank the institutional investors who participated in the demand forecasting.”
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