Kakao Bank confirmed the public offering price at 39,000 won as a result of forecasting demand for domestic and foreign institutional investors. This is the top of the Hope Band (33,000 won to 39,000 won).
According to the financial investment industry on the 22nd, the amount of participation in demand forecasting by Kakao Bank institutions, which took place from the 20th to the 21st, was 2585 trillion won.
This exceeds 2417 trillion won of SK IE Technology (SKIET) in April, the largest amount in the history of domestic IPO (IPO). A total of 1,667 places, including 1,287 in Korea and 380 overseas, participated in the demand forecast.
Competition for buying was fierce enough for most participating organizations to place orders above the top of the desired price for the public offering.
The competition rate also exceeded 1700 to 1. The investment banking (IB) industry expects Kakao Bank to enjoy high popularity in general subscriptions as it has succeeded in forecasting demand.
The company will receive public subscription for public investors for two days on the 26th and 27th. Of the 16,362,500 shares, or 25 percent of the total volume, half will be allocated equally and the other half will be allocated in a proportional manner.
Reporter Lee Ji-sun stockmk2020@gmail.com
