FnGuide, General Subscription Competition Rate 1353.90 to 1... KOSDAQ Listing on the 17th

[Asia Economy Reporter Eunmo Koo] Financial information specialist company FnGuide has succeeded in its general subscription.

FnGuide announced on the 9th that it recorded a competition rate of 1,353.90 to 1 after conducting a general public offering subscription over two days on the 8th and 9th. The general subscription deposit amounted to approximately 1.5412 trillion KRW. Previously, FnGuide confirmed the public offering price at 7,000 KRW, exceeding the expected price band, after recording a competition rate of 1,327.98 to 1 in the demand forecast targeting institutional investors. Based on the public offering price, FnGuide's market capitalization after listing is about 84.3 billion KRW, and it is scheduled to be listed on the KOSDAQ market on the 17th.

A representative from ShinYoung Securities, which was in charge of the lead underwriting, explained, “As demand for financial information has been explosively increasing recently, the proportion of individual investors among FnGuide's customers is continuously growing,” and added, “It is interpreted that FnGuide's business, which has a structure that can directly benefit from changes in market trends, was positively reflected in the public subscription.”

Kim Gunho, CEO of FnGuide, said, “We thank the investors who believed in FnGuide's value and growth potential and showed interest through the public offering process,” and added, “The funds raised through the public offering will be invested in applying new technologies such as artificial intelligence (AI) and big data, and expanding B2C services.” He continued, “Even after listing, we will continue to grow to maximize shareholder and corporate value and become a leading comprehensive financial information company.”

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