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▲ A bull in front of the Korea Financial Investment Association, Yeongdeungpo-gu, Seoul. (Newsis)
As vaccine specialist SK Bioscience’s subscription to general public offerings set a new box office record, individual investors are busy searching for a big fish that is about to appear on the list this year.
The underwriting margin for 6 securities companies that hosted the SK Bioscience IPO was 63,619.8 billion won, far exceeding Kakao Games’ previous record of 58,554.3 billion won.
Only the subscription accounts were 2.38.167, and the subscription competition rate was 335.4 to 1, and there were cases where not even a week could be received, even according to the new compensation method introduced this year. At Samsung Securities and Hana Financial Investment, where the number of underwriting accounts far exceeded the equally allocated amount, some 320,000 people were left empty-handed.
Individual investors who saw the so-called ‘jackpot’ with ‘Dattasang (initial price on trading day starts at twice the public offering price and records the upper limit price)’ and ‘Dattasang’ on the share subscription Kakao Games and SK Biopharm’s public offering last year set the schedule for the next check-and-test stock offering.
The companies expected to be listed this year are LG Energy Solutions, Kakao Bank, Krafton and SK IET.
SK IE Technology, a rechargeable battery materials company, is selected as the next broker to continue the success of SK Bioscience. The company submitted a preliminary examination for listing in December last year for listing on the KOSPI. It is currently awaiting the results of the exchange and is expected to appear on the list around May. The expected corporate value is between 5 and 6 trillion won.
In the second half of the year, an IPO of LG Energy Solutions, which spun off from LG Chem’s battery business, is scheduled. After going public, the company is expected to reach a value of at least 50 trillion won up to maximum of 100 billion won, making it the largest initial public offering in Korean history.
LG Energy Solution selected KB Securities from among the domestic securities companies and Morgan Stanley as foreign companies as the listing organizer. Daishin Securities, Shinhan Investment Corp, Goldman Sachs, Bank of America Merrill Lynch and Citigroup Global Market Securities were listed as co-organizers.
In addition, the Kakao subsidiaries Kakao Bank and Kakao Pay, the Krafton gaming company known as ‘Battle Ground’ and the comprehensive entertainment platform company Yanolja are also accelerating their entry into the stock market in the second half of the year.
However, attention should be paid to changes in the system from the second half.
Already at the end of May, as a trick to receive more shares of public offering, multiple subscriptions are prohibited by creating accounts with several securities companies. This is to expand opportunities to participate in public offerings to more general investors.
The Financial Services Commission announced on the 11th that it would announce the legislative amendment to the Execution Decree of the Capital Market Law for the 20th of next month. Under the amendment, securities companies must verify whether or not they have redundant subscriptions when assigning public offerings to ordinary investors. If duplicate subscriptions are confirmed, the public offering shares are assigned only to the first subscription and the remaining subscriptions are invalidated.
