At 4 pm on the first day of subscription, the integrated competition ratio is 7.97 to 1.
If you put in a margin of 90,000 won, you get the same
On the first day of the Kakao Pay public offering, the heat was lukewarm. As of 4 pm on the 25th, the margin for subscription was only 1.5 trillion won, and the competition ratio was less than 8:1. It is interpreted that this subscription is conducted in a ‘100% equal distribution’ method, and since duplicate subscriptions are not possible, the number of investors waiting for the competition rate by each securities company has increased significantly. That said, the first day was fiercely contested.
According to Samsung Securities, the lead organizer on the 25th, as of 4 p.m. on the same day, the margin for subscriptions received at four securities companies (Samsung Securities, Daishin Securities, Korea Investment & Securities, and Shinhan Investment & Securities) totaled 1.52 trillion won. Samsung Securities had the largest share with 760.6 billion won, followed by Korea Investment & Securities (540.6 billion won), Daishin Securities (121.7 billion won) and Shinhan Investment Corp. (101.1 billion won).
The integrated competition ratio was 7.97 to 1. Korea Investment & Securities had the highest score of 16.96 to 1. Shinhan Investment Corp. (12.69 to 1), Samsung Securities (7.34 to 1), and Daishin Securities (2.55 to 1) were in order. On that day, 608,863 cases were received, and the expected equal volume is 7.07 weeks.
For the first time in the history of an IPO in Korea, Kakao Pay has decided to evenly allocate 100% of the IPO stock to general subscribers. The minimum number of subscriptions for equal distribution of Kakao Pay is 20 shares (margin of 900,000 won). Everyone gets the same amount of shares, even if they apply for more. A brokerage company official said, “Even if you apply for a subscription to a securities company with a lot of stock, if there are more subscribers than the stock secured by the securities company, ‘0 share allocation’ may come out. Perhaps that is why, on the first day of the subscription, investors seem to be paying attention without applying hastily.” The volume of each securities company is 2.3 million shares of Samsung Securities, 1.06 million shares of Daishin Securities, 700,000 shares of Korea Investment & Securities, and 170,000 shares of Shinhan Investment & Securities. The application deadline is the 26th at 4pm.
Previously, in the institutional demand forecast conducted for two days on the 20th and 21st, 1545 domestic and foreign institutions gathered, and the competition ratio was 1714.47:1. The market capitalization based on the public offering price (90,000 won) is 11.7 trillion won, and it can enter the top 30 when it is listed on the stock market on the 3rd of next month.
By Yoon Yeon-jung, staff reporter [email protected]