Home Business 58 trillion won was poured into the subscription of Cabin IPO shares… Competition ratio 182 to 1

58 trillion won was poured into the subscription of Cabin IPO shares… Competition ratio 182 to 1

by news dir

A notice has been installed in the sales department of Korea Investment & Securities in Yeouido on the 27th, the deadline for Kakao Bank subscription. [연합뉴스]

At 3:30 pm, 30 minutes before the deadline, Mr. Lee, who had prepared cash for the subscription of Kakao Bank IPO shares, put about 100 million won in Hana Financial Investment to subscribe for 5,000 shares. Mr. Lee said, “I couldn’t make duplicate subscriptions, so I picked a securities company with less competition, so the time was delayed.”

Fierce scrutiny due to prohibition of duplicate subscriptions
13 trillion won surged 2 hours before closing
1.86 million subscriptions, more than 3 weeks per person

The general public offering of Kakao Bank (Kabin), which was selected as the biggest word for an IPO in the second half of the year, was fiercely contested until the last minute. The fight to get one more week continued, and 13 trillion won of funds poured in two hours before the closing date on the 27th, the last day of the subscription. The competition ratio also soared from 136 to 182 to 182 in two hours. There was also a sell report due to the controversy over the high price of the ransom, but it seems to have succeeded at the box office.

As a result of the closing of the subscription for cabin on the 27th, the total amount of margin for subscription received at four securities companies was 58.302 trillion won. It is the fifth largest amount of margin for subscription in an IPO general public offering in history. It failed to surpass the record of SK IE Technology (80,901.7 billion won), which had the largest margin in history due to the prohibition of duplicate subscriptions. The number of people who applied for the subscription exceeded 1.86 million, and the final integrated competition ratio was 182.7 to 1.

Korea Investment & Securities had the highest competition rate by securities company, recording 207.4 to 1. It was followed by Hyundai Motor Securities 178:1, KB Securities 168:1, and Hana Financial Investment 167.3:1. Estimating that about half of the general public offering shares are allocated equally, it is expected that all investors who have subscribed will be able to receive at least one share. This is because the number of subscriptions is less than the evenly allocated amount.

If you apply for the minimum subscription unit (10 shares, 195,000 won margin), it is expected that the number of shares you will receive as an equal distribution is 4.39 shares. Estimating the evenly distributed amount by each securities company, the place that can receive the most is Hyundai Motor Securities, which is 6.4 shares per person. KB Securities had 5.29 shares, Hana Financial Investment had 4.49 shares, and Korea Investment & Securities had 3.41 shares. The rest of the amount will be allocated on a pro-rata basis.

Jeong Tae-joon, a researcher at Yuanta Securities, who pointed out that Kakao Bank’s ransom price was excessive, said, “The margin for subscription did not exceed SK IE Technology, but the method has changed, such as blocking duplicate subscriptions.” “He said. However, he added, “The success of the subscription and the subsequent share price rise are two different issues, so we have to wait and see after the listing.”

The market capitalization of Kakao Bank, which is scheduled to go public on the KOSPI on the 6th of next month, is 18.528.9 trillion won based on the IPO price. It is the third largest financial holding company listed in Korea after KB Financial Group (21.66 trillion won) and Shinhan Holdings (19.83 trillion won). If the stock price of Kakao Bank rises by more than 17% from the IPO price after listing, it will rise to the position of the financial leader.

By Lee Tae-yoon, staff reporter [email protected]

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