Haesung TPC, IPO Price Set at 13,000 Won

[Asia Economy Reporter Hyungsoo Park] Haesung TPC, a reducer manufacturer, announced on the 9th that it has set the public offering price at 13,000 KRW.

From the 6th to the 7th, a two-day demand forecast for Haesung TPC's public offering shares was conducted targeting institutional investors, resulting in a competition rate of 1508.95 to 1.

Among the participating institutions, except for 22 that did not submit a price, all institutions proposed a purchase price at or above the upper limit of the public offering price range, 11,500 KRW. The ratio of shares with a lock-up agreement among the total application quantity recorded 16.05%.

Lee Geonbok, CEO of Haesung TPC, explained, "After listing on the KOSDAQ market, we will not only maintain our market share in the main business of elevator reducers but also secure competitiveness in the continuously growing robot reducer market."

The subscription for general investors will be held from the 12th to the 13th. The company will be listed on the KOSDAQ market at the end of April. The lead underwriter is Korea Investment & Securities.

The funds raised through the initial public offering (IPO) will be used for research and development expenses, facilities, and operating funds. Through research and development and facility investment in the robot reducer sector, the company is promoting the development of over 30 new models. The strategy is to quickly respond to demand changes in the robot reducer market, which is expected to grow significantly due to the expansion of smart factories.

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