Listed today by SK Basa… In the case of’Dream’, it hits 7.9 billion won per employee

SK Bioscience, which set a new record for subscription margins during the IPO process, will begin its first trading on the stock market on the 18th. As most of the volume of institutional investors is bound by protection deposits, it is worth paying attention to whether or not there will be a’death prize’.

The initial price is settled within the range of 90 to 200% of the offering price by accepting quotations from 8:30 to 9:00. SK Bioscience’s offering price is 65,000 won, and the initial price is determined between 58,500 and 130,000 won. After opening, the stock price can rise or fall to 30% of the initial price. SK Bioscience’s stock price can rise to a maximum of 169,000 won on the first day of listing if the initial price doubles the public offering price and achieves the so-called’tasang’, which increases the upper limit of the stock price after the opening.

Individual investors who participated in SK Bioscience’s public offering and received one week will receive a return of 104,000 won, 160%, as a’tasang’ on the first day of listing. Even on the second day of listing, the stock price rises to 215,500 won if the stock price rises to 215,500 won, resulting in a profit of 238%.

SK Biopharm, which sparked the IPO craze last year, recorded’Tasang’, Kakao Games recorded’Tasang’, and Big Hit recorded’Tasang’.

Most of the publicly offered stocks of institutional investors who have been allocated most of the volume in the IPO appear to be tied up with protection deposits, so there is high expectations for the situation. The ratio of SK Bioscience institutional investors to commit to mandatory retention is 85.26%. This is higher than Big Hit (78.37%), Kakao Games (72.57%), and SK Biopharm (52.25%). The ratio of shares available for circulation on the first day of listing, including the volume of major shareholders and employee stock ownership associations, is 11.63%, lower than SK Biopharm (13.06%), Kakao Games (20.51%), and Big Hit (19.79%).

SK Bioscience’s market capitalization based on the public offering price is KRW 4,972.5 billion. On the first day of listing, the market cap expands to 12,9285 billion won. It is the 28th place in the KOSPI market cap after Amorepacific.

It is also of interest how much profit will be gained by executives who hold SK Bioscience’s stock options and employees who receive public offerings through the employee stock ownership association.

The company’s four executives, including CEO Ahn Jae-yong and CTO Kim Hoon, have 10,960 to 2,190,000 stock options per person. The event period starts in December, and the exercise price is 9,154 won, which is about a seventh of the public offering price. When SK Bioscience goes on the first day, the stock option valuation gains owned by four executives will reach 87.3 billion won. For each executive, stock options are expected to hit 17.5 billion won to 34.9 billion won. SK Bioscience employees also purchased 4.49 million shares and 2919 billion won of treasury shares through the employee stock ownership association. As of the end of last year, the number of employees of the company was 591, which is 493.86 million won per person. SK Bioscience is expected to see treasury stock valuation gains of 790.19 million won per employee. However, public offering stocks for the employee stock ownership association can be sold only one year after listing.

Han Byeong-hwa, a researcher at Eugene Investment & Securities, said, “It is difficult to find comparable companies, but CureVex, ​​Novavex, and BioEntech, which have grown rapidly due to Corona 19, will become role models.” “If the data of phase 2 and 3 of the COVID-19 vaccine developed by itself are good and can be released in the second half of next year, the share price will be formed at the level of the market cap of these global new vaccine companies,” he said.

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