Point Mobile, Public Offering Price Set at 15,000 Won... KOSDAQ Listing on Next Month's 3rd

1508 Institutions Participated, Competition Rate 1447.07 to 1
Subscription from November 23 to 24... Scheduled to be Listed on KOSDAQ on December 3

[Asia Economy Reporter Eunmo Koo] Point Mobile has succeeded in its demand forecast. The industrial mobile device specialist, Point Mobile, announced on the 19th that the final public offering price was set at 15,000 KRW, the upper end of the desired band (13,000~15,000 KRW), following a two-day demand forecast conducted for domestic and international institutional investors starting from the 16th. Point Mobile plans to enter the KOSDAQ market on the 3rd of next month after subscription for general investors on the 23rd and 24th.

A total of 1,508 domestic and international institutions participated in this demand forecast, recording a competition rate of 1,447.07 to 1. This is the second highest figure among KOSDAQ listings conducted this year, following Kakao Games (1,478.53 to 1).

A representative from the lead underwriter, Hana Financial Investment, explained, "99.95% of the institutions participating in the actual demand forecast offered prices at or above the upper end of the public offering band, showing trust in Point Mobile's growth plans and vision," adding, "The company’s leading technology in the industry, based on extensive ODM/OEM business experience and its global customer base, was a key factor in the successful public offering."

The total funds raised through this public offering amount to 16.4 billion KRW. The secured funds will primarily be used as operating capital to secure the ability to respond to orders from global customers, with additional allocations for facility investments and research and development expenses for new product development.

Kang Sam-kwon, CEO of Point Mobile, expressed gratitude, saying, "We thank the investors who positively evaluated Point Mobile’s diverse product portfolio and customer-tailored total solutions during the demand forecast period," and added, "After listing, we will continue to grow as a company that creates a new future for the 4th industrial revolution with recognized technology and outstanding competitiveness."

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