Solux, General Subscription Competition Rate 1660 to 1... Scheduled to List on KOSDAQ on the 6th

[Asia Economy Reporter Eunmo Koo] Solux has succeeded in attracting attention in the general public offering following the demand forecast.

LED lighting total solution company Solux announced on the 2nd that the subscription competition rate for the general investors' public offering held over two days from the 29th to the 30th of last month was recorded at 1660.08 to 1. Solux completed all public offering procedures with the payment of subscription deposits on the same day and is scheduled to be listed on the KOSDAQ market on the 6th. The underwriter is Mirae Asset Daewoo.

In the general public offering, a total of 655,289,780 shares were applied for against 394,734 shares, which is 20% of the total public offering volume. The total subscription deposit amounted to approximately 3.2764 trillion KRW. The company had previously set the public offering price at the upper end of the expected price band (8,000 KRW to 10,000 KRW) at 10,000 KRW after recording a competition rate of 1,135 to 1 in the demand forecast for institutional investors.

An industry insider explained, “It seems that Solux was recognized for its unique growth potential due to its self-developed premium products that differentiate it from other companies, possessing both product competitiveness and price competitiveness, as well as establishing a broad sales network from construction companies to government offices and securing new growth engines through full-scale global expansion.”

After listing, the company plans to double its production capacity based on the public offering funds and strengthen the capabilities of each business division segmented into B2B, B2C, B2G, ESCO, and overseas specialties. In particular, the B2G and ESCO businesses are expected to significantly contribute to company-wide growth starting this year, as high value-added projects are concentrated toward the end of the year.

Kim Bokdeok, CEO of Solux, stated, “As the best LED lighting company that has built a solid foundation and entry barriers over 24 years, we will expand beyond Northeast Asia to overseas markets including North America, South America, the Middle East, and Africa.”

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