BBC confirms IPO price at 30,700 won... to enter KOSDAQ on the 21st
[Asia Economy Reporter Eunmo Koo] BBC, a dental care specialist company based on fine bristle materials, has succeeded in its demand forecast.
BBC announced that a total of 1,156 institutional investors from domestic and overseas participated in the demand forecast conducted over two days from the 2nd to the 3rd, recording a competition rate of 977.5 to 1, and finalized the public offering price at the top of the desired band (27,100 KRW to 30,700 KRW) at 30,700 KRW. The total public offering amount is about 36.8 billion KRW.
A representative from Mirae Asset Daewoo, which underwrote the listing, explained, “More than 99% (99.997%) of the actual demand forecast participation volume offered prices above the top of the public offering band, indicating that BBC’s material technology-based mid- to long-term business vision was highly evaluated.”
BBC has grown focusing on dental care-related businesses such as functional toothbrush bristles. It currently holds a 70% market share in the domestic toothbrush bristle market and exports to 186 overseas companies, establishing a dominant position in both domestic and international markets.
An IR Q-Dus representative, who conducted IPO consulting, said, “BBC’s overseas sales ratio is about 78.5%, demonstrating the capabilities of K-manufacturing not only domestically but also in the global market,” and added, “With a high-profit product portfolio including masks and beauty care sectors to be added, the company’s corporate value is expected to increase further in the future.”
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Kang Ki-tae, CEO of BBC, expressed his aspirations, saying, “We thank the investors who showed interest in BBC’s IPO despite the difficult situation caused by the resurgence of COVID-19,” and added, “We will actively utilize the funds raised through the public offering for facility investment and new business expansion to achieve a second leap as a health and beauty care material specialist company.”
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