Customers are waiting at the Shinhan Financial Investment branch in Yeouido, Seoul on the morning of the 18th, when LG Energy Solutions, which is considered to be the largest IPO (initial public offering) in the history of the domestic stock market, started offering public shares for general investors. [한주형 기자]The margin refund procedure for 4.4 million general investors who participated in the LG Energy Solution (LG Ensol) IPO share subscription will proceed. Investors are paying attention to the subscription schedule for the next public offering as the amount of refunds is expected to become an all-time high as more than 100 trillion won of margin is accumulated in the subscription craze.
According to the financial investment industry on the 21st, LG Ensol’s total margin for public offering shares for general investors is 114.106.6 billion won. In fact, the remaining amount will be refunded excluding the stocks allocated to individual investors (a total of 10,974,82 shares, worth 3.29 trillion won). Accordingly, the amount of the margin refund amounted to 110,815.4 billion won.
Investors’ eyes are naturally directed to the next public offering. Since the beginning of the year, the public offering market has been revitalized due to LG Ensol, which is considered the biggest IPO since Dangun. Companies scheduled to be listed on the KOSDAQ, which predicted demand for institutional investors this month, also succeeded one following another.
Easytronics and Skonek Entertainment, which are conducting subscriptions for general investors until this day, decided to set their IPO price above or above the upper end of the desired band in the demand forecasting of institutional investors.
Easytronics, a company specializing in power conversion devices, confirmed the public offering price at 22,000 won in the institutional investor demand forecast held for two days from the 13th to the 14th. This is the highest price range of 19,000 won to 22,000 won, which is the desired public offering price band. 1388 organizations participated in the demand forecasting, recording a competition ratio of 1415 to 1. Of the participating institutions, 97.98% (1360 companies) offered a price above the upper end of the public offering band. Thirty-eight institutions made mandatory holding commitments.
With this listing, easytronics will offer 1.98 million shares worth a total of 43.5 billion won. The expected market cap following listing is regarding 170 billion won. It is scheduled to enter the KOSDAQ market on the 4th of next month through the technical special listing of the director (materials, parts, equipment).
As a result of forecasting demand from institutional investors, Skonek Entertainment, a VR (virtual reality) content development company, confirmed the IPO price at 13,000 won, which exceeds the desired IPO price band. A total of 1716 institutional investors participated in the demand forecast conducted on the 13th and 14th, and the final competition ratio was 1725 to 1. About 99% of participating organizations wrote down the offering price above the upper end of the desired range (including price not shown). The public offering price was set at 13,000 won, and the total public offering amount was confirmed at 28.9 billion won. Skonec Entertainment will also be listed on the KOSDAQ market on the same day as Easytronics.
Asems, an eco-friendly adhesive material company, also confirmed its offering price at 8,000 won, the highest level of the Hope Band. The competitive ratio for institutional demand forecasting was 1618 to 1. It is scheduled to be listed on the KOSDAQ market early next month following the public offering stock subscription for general investors is held on the 24th and 25th.
Narae Nanotech, which offers public offering stock subscriptions for general investors on the same schedule as ASEM, had a somewhat sluggish rate of competition in institutional demand prediction of 102:1. The offering price was set at 17,500 won, which is the lower end of the desired range (17,500 to 25,500 won). Narae Nanotech focuses on manufacturing display thin film coating, curing, and bonding equipment.
On the 3rd and 4th of next month, Hyundai Engineering will proceed with general subscription. Demand forecasting for domestic institutional investors is scheduled for the 25th-26th. In addition, large-scale IPOs such as OneStore, Hyundai Oilbank, Kyobo Life Insurance, Market Kurly and Socar are expected to heat up the first half of this year.
The stock market is overflowing with funds waiting for investment, and it is expected that an all-time IPO market will unfold this year as it did last year.
Choi Jong-kyung, a researcher at Heungkuk Securities, said, “The size of this year’s IPO is expected to exceed 25.4 trillion won, exceeding last year’s record. Content that is being applied to is an industry that will brighten up the IPO market this year.”
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