Somagen, IPO Price Set at 11,000 Won
[Asia Economy Reporter Hyungsoo Park] Somagen has set the public offering price at 11,000 KRW.
Somagen announced on the 26th that it recorded a competition rate of 69.46 to 1 as a result of conducting demand forecasting for institutional investors over two days starting from the 22nd. Somagen plans to raise 46.2 billion KRW through its initial public offering (IPO). The expected market capitalization after listing is 185.5 billion KRW based on the public offering price.
Ryan W. Kim, CEO of Somagen, said, "We have set a market-friendly public offering price considering various circumstances."
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Somagen will hold a general public subscription from the 29th to the 30th. The scheduled KOSDAQ listing date is the 13th of next month, and the listing underwriter is Shinhan Financial Investment.
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