[사진 = 김호영 기자]iFamily S, led by CEO Kim Tae-wook, who is well known as a singer and producer, is forming a stock price that exceeds the IPO price on the first day of listing on the KOSDAQ.
As of 9:30 am on the 28th, iFamily S C is trading at 29,600 won, up 950 won (3.32%) from the initial price.
The offering price of iFamily S is 25,000 won. The current share price is 18.4% above the IPO price.
The current market cap of iFamily S is 121.8 billion won. It is ranked 815th on the KOSDAQ market. CEO Kim Tae-wook, who owns 28.44% of the company’s stock, is valued at 34.6 billion won.
iFamily S is engaged in color cosmetics business and wedding business. Last year, it recorded 79.2 billion won in sales and 11.6 billion won in operating profit, and in the first half of this year, sales and operating profit reached 39.1 billion won and 2.9 billion won, respectively.
Although the size of the company is not large, iFamily S.C. has become famous as a star-turned-CEO named Kim Tae-wook. CEO Kim Tae-wook established iWedding Networks in 2000, and the company has grown into iFamily SC. It is the first time for a celebrity-turned CEO to be listed as a company other than the entertainment industry.
On this day, ahead of the listing of iFamily S, there were a lot of views that predicted a weakness in the stock price. This is because, despite the high recognition of CEO Kim Tae-wook, individual and institutional investors did not show much interest in iFamily SC during the IPO (initial public offering) process.
In the institutional demand forecast conducted on the 12th and 13th, the competition ratio was only 63:1. This is the second lowest competition this year after K-Car, where the competition ratio was 40:1. The number of applications for the commitment of mandatory holding was zero. Among the companies that have conducted IPO this year, iFamily S is the only company that has not received a single application for a mandatory holding commitment. The second was S&D, which conducted a demand forecast last month, and received only one mandatory holding promise.
As institutional demand forecasts were sluggish, iFamily S C confirmed the IPO price at 25,000 won, 36% lower than the 39,000 won, which is the lowest price range. However, in the public offering for general investors held on the 18th and 19th, the competition ratio was only 21:1. The margin for subscription was only 535 billion won.
Jae-ho Choi, a researcher at Hana Financial Investment, said, “It is different from its competitors in that it is directly in charge of marketing and content production. This increase in product launch speed has competitiveness in the rapidly changing beauty industry.” The wedding business is also expected to recover,” he said.
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