SK Shielders withdraws from listing… Official position “We will pursue listing in consideration of future market conditions”
After LG Energy Solutions in January, SK Shielders announced its official position as it withdrew its listing as a major IPO (initial public offering) market.
The company said, “During the IPO process, most institutional investors received positive evaluations of SK Shielders’ fundamentals (growth potential, profitability, and stability). The company declined sharply, and as a result, we decided to withdraw the listing and review the listing promotion at the optimal time to fully evaluate the company’s value in consideration of future market conditions.”
He continued, “I would like to inform you that there is no problem in terms of investor protection as stocks have not been allocated to institutional investors who participated in the current demand forecast and the subscription for general investors has not been conducted. We will further expand the company’s growth businesses, such as, and the management and employees will work together to further strengthen SK Shielders’ differentiated competitiveness.”
SK Shielders submitted a securities declaration to the authorities at the end of March with the aim of entering the KOSPI. The IPO price range is expected to range from 31 to 38,000 won, and the public offering size is 840.2 billion to 1.51.6 billion won.
The market believes that the direct cause of SK Shielders’ delisting is sluggish demand forecasting. SK Shielders conducted a demand forecast for institutional investors on the 3rd and 4th, and it is known that it was only 200 to 1. As there are not many institutional investors who respond to demand forecasts, it is reported that the IPO price has been lowered by 20% to the 25,000 won level.
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