Big hands at home and abroad jumped in to receive the public offering of SK Bioscience. Thanks to the abundant liquidity, there is a high likelihood that the public offering price will also be selected at the top.
However, in the market, SK Bioscience is unlikely to reap the “opening price on the day of listing, and the closing price will rise to the price limit after the public offering is doubled. This is because the proportion of mandatory deposit commitments is lower than that of SK Biopharm and Kakao Games.
SK Bioscience conducted a demand forecast for domestic and foreign institutions from the previous day to 5 pm on the day. A total of 22.95 million shares are offered, and the desired price is between 49,000 and 65,000 won. SK Bioscience is the largest company among listed players in the first quarter. This is because the market capitalization estimated at the top of the offering price alone reached KRW 4,972.5 billion (based on discount rate), which is larger than the parent company. As of the 5th, SK Chemicals’ market capitalization was KRW 3.698.5 billion.
The offering price is expected to be set at the top of 65,000 won. From the first day, large organizations have jumped into demand forecasting, shouting’Buy’. With the participation of the Singapore Investment Authority (GIC) and Norway’s Central Bank (Norges Bank), which prefer long-term investment, the atmosphere was heightened. Like last year’s Big Hit, GIC suggested a one-month commitment period and participated in the order. It is known that the National Pension Service has written a six-month commitment period.
An official from the IB industry said, “Generally, overseas organizations do not make a commitment, but GIC has provided an unusual period.” “The movement of the big players in the public offering market is not much different from that of SK Biopharm.”
In the domestic asset management industry, there was a fierce struggle until the last minute. This is because the number of public offering stocks allocated varies widely depending on how long the commitment period is presented. Small and medium-sized and hedge fund managers have written commitments mainly for 1 to 3 months, taking into account uncertainties in the stock market and side effects related to AstraZeneca. About 56.9% of the institutions that participated in the demand forecasting until 2 pm on the 5th offered confirmation. Of these, 3 months and 6 months are said to account for 21.4% and 18.1%, respectively.
In the market, the likelihood of SK Bioscience is low. This is because there is a high possibility that the ratio of obligatory commitments will be lower than SK Biopharm (81.2%), which won the prize previously. Although the percentage of final confirmation may be similar to that of Kakao Games (58.6%), the observation that there are many domestic managers who proposed less than one month is dominant.
An official from an asset management company said, “It is not an atmosphere to present a six-month commitment as much as when it was at SK Biopharm. It is true that it is burdensome to take it with a long breath because it feels like the Korean stock market is beating slightly.
SK Bioscience will offer general investors over the coming 9-10 days. The amount allotted to individuals is 5.375,000-6885,000 shares, which is about 25-30% of the total number of publicly offered shares. NH Investment & Securities, Korea Investment & Securities, Mirae Asset Daewoo, SK Securities, Samsung Securities, and Hana Financial Investment. SK Bioscience is scheduled to announce the final public offering price and allocation amount at the corrected announcement on the 8th.
Equal distribution of public offering shares is applied to this subscription. Equal distribution is a method of distributing 50% or more of the offering volume to investors who have subscribed to the minimum quantity in the same quantity. This means that up to 3.442,500 shares of individual stocks can be allocated on an equal basis. “The number of equally allocated stocks is expected to be the largest in NH Investment & Securities and the smallest in Samsung Securities,” said the head of the PB center of a securities company. .
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