As the subscription for LG Energy Solutions (hereinfollowing referred to as LG Ensol) IPO shares, which attracted the largest amount of 114 trillion won in history, was completed, 110 trillion won of the subscription margin will be refunded on the 21st.
Accordingly, attention is focused on how the astronomical subscription margin refund will affect the stock market. Securities analysts believe that the effect of improving stock market supply and demand is highly likely to occur.
According to the financial investment industry on the 21st, the amount of refund for the LG Ensol subscription amount reached 110,815.5 billion won. Of the 114 trillion and 106.6 billion won in margin, only 3.291.1 billion won (10,97482 shares) will be allocated, and the rest will be refunded.
Considering that the negative account balances of the five major banks surged by 7 trillion won during the two days of subscription, the amount of refunds used to repay loans will not be small, but a significant portion is expected to flow back into the stock market. During the two days of subscription, the waiting funds in the stock market, such as the deposits in the stock market, the balance of the comprehensive asset management account (CMA), and the balance of repurchase receivables (RP) to customers, fell sharply by 55 trillion won.
An increase in funds around the stock market is highly likely to be positive for the stock market. The Korean stock market fell more sharply than the stock markets of major countries such as the US and China due to negative supply and demand issues caused by the listing of LG Ensol in addition to concerns regarding stronger-than-expected tightening by the US Federal Reserve.
Choi Yoo-jun, a researcher at Shinhan Investment Corp., said, “In large-scale IPOs, there are two main types of IPOs: the sale of existing stocks and withholding purchases to raise the margin for new stock subscriptions, and the demand to buy new stocks from the following funds following incorporation into the benchmark. will,” he said.
As a lump sum of 110 trillion won flows into the accounts of brokerages, the competition among brokerages to grab this money is fierce.
KB Securities, the co-representative organizer, is offering repurchase contingent receivables (RP) with an annual rate of return of 5.0% before tax, up to KRW 1 million per person, to customers who have signed up for an intermediary-type individual asset management account (ISA) among customers who participated in the LG Ensol public offering stock subscription. Sell.
Shinhan Financial Investment also held an event to give away 10,000 to 100,000 won department store gift certificates through lottery when customers who applied for public offering shares this month invest in financial products such as short-term bonds, over-the-counter bonds, and derivative-linked bonds (DLBs).
(Seoul = News 1)