2023-09-21 21:16:03
[이기자의 친절한 금융] ‘IPO Big Fish’ Doosan Robotics, if you want to receive more public offering shares, general subscription for Doosan Robotics, the largest initial public offering (IPO) in the second half of this year, has begun. The number of shares allocated varies depending on the competition rate of each securities company, resulting in fierce competition among investors.
According to the financial investment industry on the 22nd, Doosan Robotics’ general investor subscription will be held until 4 p.m. on this day.
Subscriptions can be made at seven securities companies, including Mirae Asset Securities and Korea Investment & Securities, which are joint lead managers, NH Investment & Securities and KB Securities, which are co-managers, and Kiwoom Securities, Shinyoung Securities, and Hana Securities, which are underwriters. You can visit a branch or subscribe online, such as through the Home Trading System (HTS), and the subscription deposit is the same at 50%.
In the demand forecast conducted for institutional investors from the 11th to the 15th, the public offering price was confirmed at 26,000 won, at the upper end of the desired range of 21,000 to 26,000 won.
In this demand forecast, 1,920 domestic and foreign institutions participated, recording a simple competition rate of 272 to 1. At first glance, this figure does not seem that high, but it is due to the introduction of a procedure to confirm the ability to pay the main deposit to the management company in July of last year in order to improve the practice of exaggerated subscriptions.
In the meantime, institutional investors might be allocated public offering stocks according to the competition rate, so it was considered customary to set the application quantity in excess of the actual demand. As a result, the competition rate soared to over 1,000 to 1, but as the underwriting regulations were revised to improve the health of the IPO market, the competition rate fell noticeably.
Considering this background, when converting the number of shares participating in demand forecasting (2,423,795,018 shares) into the public offering price (KRW 26,000), Doosan Robotics’ demand forecasting participation amount is expected to be KRW 63 trillion, the largest amount this year. After listing, the market capitalization is expected to be 1.6853 trillion won.
Meanwhile, the margin as of 4 p.m. the previous day was calculated to be 3.555 trillion won. Although it is less than the first-day subscription fund of 32 trillion won for LG Energy Solutions, the largest company in history listed last year, it is still quite a lot considering that it is only the first day.
On the first day of subscription, Mirae Asset Securities, the representative underwriter, collected the largest amount of margin, 1.36 trillion won, and Korea Investment & Securities, another representative underwriter, also collected 910.9 billion won. Margin was collected in that order: KB Securities (KRW 677 billion), NH Investment & Securities (KRW 357.4 billion), Kiwoom Securities (KRW 123.1 billion), Hana Securities (KRW 90.7 billion), and Shinyoung Securities (KRW 30.9 billion).
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