Kakao Games IPO Demand Forecast at 1479 to 1... Record-High Competition Rate

1745 Institutions Participate in Demand Forecasting, a Record High... 407 Overseas Institutions

Provided by Kakao Games

[Asia Economy Reporter Minwoo Lee] Kakao Games recorded the highest demand forecast competition rate in the history of domestic initial public offerings (IPO) at 1479 to 1. This far surpasses SK Biopharm’s record-breaking subscription enthusiasm with a rate of 836 to 1.

Kakao Games announced on the 31st that it achieved a competition rate of 1479 to 1 as a result of conducting demand forecasting for domestic and overseas institutional investors from the 26th to 27th. Out of the total 16 million public offering shares, 11,277,912 shares (70.49%) were allocated to institutional investors, and 16,674,698,385 shares were submitted. A total of 1,745 domestic and foreign institutions participated in the demand forecast, the highest participation among domestic public offering companies. Among them, 407 were overseas institutional investors. Both the competition rate and participation rate are the highest ever in domestic IPO history.

Since 100% of the participating volume proposed prices at or above the upper limit of the desired public offering price range (20,000 to 24,000 KRW), the public offering price was set at 24,000 KRW. Based on the confirmed public offering price, Kakao Games will conduct a public offering subscription for general investors from the 1st to the 2nd of next month. It is scheduled to be listed on the KOSDAQ market on the 10th of next month. Korea Investment & Securities and Samsung Securities jointly took charge of the listing underwriting. KB Securities participated as the underwriting company.

The total funds raised through this public offering amount to 384 billion KRW. Kakao Games plans to use these funds to strengthen development capabilities, secure new intellectual property (IP) and lineups, and invest in global market expansion.

Namgoong Hoon, CEO of Kakao Games, said, "We are pleased to be recognized by domestic and international investors for the company’s competitiveness and future value and to achieve meaningful results in the public offering market." He added, "We sincerely thank the institutional investors who participated in the demand forecast."

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