SK Biopharm Subscription Attracts 6 Trillion Won on First Day... Competition Ratio 62 to 1

[Asia Economy Reporter Koh Hyung-kwang] On the first day of subscription for SK Biopharm, considered the biggest IPO of the year, subscription deposits nearly reached 6 trillion won. Even investors who had little interest in stocks flocked, causing the homepage of the lead underwriter to temporarily crash. This is interpreted as a result of abundant liquidity in the market, a low-interest rate environment, and the fact that SK Biopharm is a drug development company with high growth potential.

According to the financial investment industry on the 23rd, SK Biopharm's general subscription received 90,120 applications for a total of 3,915,662 public offering shares. The number of subscribed shares reached 242,500,297, and the subscription deposits amounted to 5.9413 trillion won. The general subscription was conducted through NH Investment & Securities, Korea Investment & Securities, SK Securities, and Hana Financial Investment. Among the securities firms, NH Investment & Securities had the highest competition rate at 65.63 to 1, followed by Korea Investment & Securities at 64.19 to 1.

NH Investment & Securities, which offered 1,801,898 shares, received 46,263 applications (approximately 118,260,000 shares). Korea Investment & Securities offered 1,212,816 shares and received 32,935 applications (77,855,510 shares). Hana Financial Investment and SK Securities recorded competition rates of 58.63 to 1 and 47.02 to 1, respectively. Hana Financial Investment received 4,907 applications, and SK Securities received 6,015 applications.

According to the underwriters, even novice stock investors are showing great interest in this subscription. Inquiry calls about account opening have been pouring in for several days, and many customers are asking about the maximum amount of deposit and expected returns. Around noon on the day, the homepage of the lead underwriter NH Investment & Securities temporarily crashed due to excessive traffic.

SK Biopharm's listing excitement heightened as news of its listing was announced, including the approval of the preliminary review by the Korea Exchange in October last year. Interest grew even more at the beginning of this year as the pharmaceutical and bio sectors gained attention amid the COVID-19 pandemic.

The subscription frenzy for SK Biopharm is expected to continue on the second day of subscription. This is because the allocation of subscription shares is based on competition rates rather than a first-come, first-served basis. The results of the public offering allocation will be announced on the 26th. Subscription deposits will be converted into payment, and the remaining 50% balance can be additionally paid on that day.

This content was produced with the assistance of AI translation services.