SK Bioscience has rewritten the history of the domestic KOSPI public offering stock. In demand forecasting, it proved the highest level of popularity ever, leaving a whopping 1275 to 1 competition rate. It is noteworthy whether a previous level of margin will be introduced from the general investor subscription starting today.
On the 8th, SK Bioscience announced that it had set the public offering price at 65,000 won per share in the correct disclosure. This is the top of the desired range (49,000~65,000 won). This is because the demand forecasting competition rate reached a whopping 1275.5 to 1, and it received love calls from institutions that are said to be in the middle. SK Bioscience’s competition rate is the highest since the launch of the securities market (KOSPI). The previous record was Myeongshin Industries (1196:1), which was listed in December last year.
Accordingly, the size of SK Bioscience’s public offering was set at KRW 1,491.7 billion, and the market capitalization before listing was at KRW 4,972.5 billion. A market official said, “SK Group is in a position to consistently set the offering price to be market-friendly,” he said. “It is in this context that SK Biopharm and SK Bioscience have decided that the offering price is at the top.”
A total of 1464 institutional investors took part in the order. About 35% of these were asset managers that came through the fund. Participation (11%) of foreign institutions that had no business with the domestic market was particularly high. It was so popular that 77% of all institutions wrote a price exceeding the top (65,000 won).
The rate of commitment by institutions was also high. 59.9% of all investors took part in the order after suggesting a commitment period. The proportion of investors who wished to hold mandatory for 3 months (38.2%) and 1 month (33.3%) was remarkable. The Singapore Investment Agency (GIC) proposed a one month and the National Pension Service provided a six-month commitment period, respectively.
The obligation commitment period is considered to be an important indicator for predicting the flow of stock prices after listing of public offering stocks. Another market official said, “It’s less than SK Biopharm, but given the uncertain market situation, it’s a great advantage.”
The success of SK Bioscience was decided early on the first day of demand forecasting (4th). This is because the large institutions called Narrows have written orders too. When the news of the participation of GIC and Norges Bank, which tends to hold long-term, became known, the market atmosphere became hot.
SK Biosciences will proceed with subscription to general investors for two days from the 9th. Subscriptions are carried out simultaneously at NH Investment & Securities, Korea Investment & Securities, Mirae Asset Daewoo, SK Securities, Samsung Securities, and Hana Financial Investment.
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