E&DD, Final Subscription Competition Rate 808.62 to 1

[Asia Economy Reporter Oh Ju-yeon] E&DD, a company specializing in environmental improvement catalysts and secondary battery material development and manufacturing, recorded a final subscription competition rate of 808.62 to 1 for its IPO on the KOSDAQ market.

On the 23rd, IBK Investment & Securities, the underwriter of E&DD, announced that during the two-day public offering subscription held on the 21st and 22nd, a total of 3.784 million shares were subscribed for the 468,000 shares allocated to general investors. The total deposit amount reached 2.7247 trillion KRW.

E&DD conducted a demand forecast for institutional investors on the 14th and 15th, resulting in a final subscription rate of 1,168.7 to 1. The final public offering price was set at the upper end of the price band (12,350 KRW to 14,400 KRW) at 14,400 KRW.

Choi Jong, a researcher at Heungkuk Securities, stated in a report, "E&DD manufactures catalysts, the key core technology of catalyst systems, and sells them to competitors, demonstrating the market’s high evaluation of the competitiveness of its catalyst systems and catalysts. The secondary battery cathode active material precursors are planned to regain growth through collaboration with domestic and international related companies and expansion after listing, based on technological competitiveness such as various compositions, particle size control, shape, and physical property control."

Kim Min-yong, CEO of E&DD, said, "We will do our best to achieve greater leaps and enhance shareholder value through the KOSDAQ market listing."

Meanwhile, E&DD completed all public offering procedures on the payment date, the 23rd, and is scheduled to be listed on the KOSDAQ market on July 30.

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