Jeju Beer to Pursue KOSDAQ Listing in May... First in the Beer Industry

[Asia Economy Reporter Seungjin Lee] Jeju Beer is the first in the beer industry to be listed on the KOSDAQ market.

Jeju Beer announced on the 31st that it has submitted a securities registration statement to the Financial Services Commission for listing on the KOSDAQ market. It is scheduled to be listed on the KOSDAQ market on May 13.

The number of public offering shares is 8,362,000. The desired price range per share is 2,600 to 2,900 KRW, with a maximum public offering amount of 24.2 billion KRW. The final public offering price will be determined through demand forecasting for institutional investors on April 26-27. General subscription will be conducted on May 3-4. Daishin Securities is the lead underwriter.

The funds raised from the public offering will be used for research and development, facilities, and operating expenses. The plan focuses on ▲ investment in research and development (R&D) and securing professional personnel ▲ investment related to production facilities and branding of brewery tour spaces ▲ pioneering overseas markets and expanding sales channels.

Established in 2015, Jeju Beer operates in craft beer manufacturing, import, and distribution businesses. It produces beer through a strategic partnership and brewing equipment introduction with Brooklyn Brewery, the number one craft beer company in New York, USA. Over the past four years, it has grown rapidly, recording its highest-ever performance last year with sales more than doubling compared to the previous year.

Jeju Beer plans to expand the Jeju brewery by the first quarter of this year to secure an annual production capacity of 20 million liters. By establishing a technology research institute corporation to focus on brewery R&D capabilities, it aims to diversify its cumulative product lineup to more than 10 types within this year, leading both quantitative and qualitative growth in the Korean beer market.

Moon Hyuk-ki, CEO of Jeju Beer, said, “Based on rapid growth after the revision of the liquor tax law, we judged that it is the right time to leap forward as a new innovation model for beer manufacturers through full-scale business expansion.” He added, “After listing, we will change the long-entrenched ecosystem as a game changer in the Korean beer market and promote the excellence of Korean beer to the world.”

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