E&DD, IPO Price Set at 14,400 KRW... Competition Rate 1,168.7 to 1

[Asia Economy Reporter Oh Ju-yeon] The public offering price of E&DD, a company specializing in the development and manufacturing of environmental improvement catalysts and secondary battery materials, has been finalized at the upper limit of the desired price band, 14,400 KRW.

E&DD announced on the 17th that a total of 1,248 institutional investors participated in the demand forecast conducted for institutional investors on the 14th and 15th, recording a competition rate of 1,168.7 to 1. The public offering price was set at 14,400 KRW, the upper limit of the desired price band (12,350 KRW to 14,400 KRW), and the total public offering amount was finalized at 33.7 billion KRW.

A company official stated, "The majority of institutions offered prices at or above the upper limit, showing strong interest from domestic and international institutions."

Among all participating institutions, 1,244 institutions, except for only four, offered prices at or above the upper limit, including those who did not specify a desired price within the band.

E&DD, which has been researching and developing environmental improvement catalysts and core basic materials for secondary batteries, manufactures and supplies catalysts and catalyst systems (particulate matter reduction devices) that remove air pollutants, as well as cathode active material precursors, which are key materials for secondary batteries.

According to the lead underwriter, factors contributing to the strong demand include the possibility of stable performance growth due to strengthened government policies on fine dust, and the high visibility of business expansion in catalyst materials and growth in secondary battery precursors for electric vehicles after listing.

Kim Min-yong, CEO of E&DD, said, "Through this IPO, we will become a global catalyst and secondary battery materials company by expanding investments and external growth in catalyst materials and cathode active material precursors for electric vehicles, based on stable sales from the catalyst system business division."

E&DD's public subscription for general investors will be held over two days, from the 21st to the 22nd, with 468,000 shares, accounting for 20% of the total public offering volume, allocated. General investors can apply for subscription through the lead underwriter, IBK Investment & Securities, and E&DD is scheduled to enter the KOSDAQ market on the 30th.

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