'Duplicate Last Call' SKIET, IPO Subscription Today... Surge in New Securities Accounts Boosts Competition Rate

[Asia Economy Reporter Ji Yeon-jin] SK Innovation's subsidiary SK IE Technology (SKIET), a separator manufacturer for secondary batteries, began its public offering subscription for general investors on the 28th. As the last public offering allowing multiple subscriptions, attention is focused on whether this subscription can break the record set by SK Bioscience, which attracted the largest subscription deposit of the year (64 trillion won).

SKIET is accepting general subscriptions for 5,347,500 shares, which is 25% of the total public offering shares, over two days starting today. The subscription is conducted through five securities firms: the lead underwriter Mirae Asset Securities (allocated 2,482,758 shares), joint underwriter Korea Investment & Securities (1,718,840 shares), SK Securities (763,928 shares), Samsung Securities (190,982 shares), and NH Investment & Securities (190,982 shares).

In the subscription that started at 10 a.m. today, NH Investment & Securities received 31,083 subscription applications within the first 10 minutes, resulting in the highest competition rate of 12.8 to 1. This was followed by Samsung Securities at 8 to 1, Mirae Asset Securities at 7.7 to 1, Korea Investment & Securities at 3.3 to 1, and SK Securities at 2.0 to 1.

SKIET attracted intense interest even before the subscription as it is a major IPO and related to the secondary battery sector for electric vehicles, which has recently heated up the stock market. SKIET is a subsidiary 90% owned by SK Innovation and produces lithium-ion battery separators (LiBS), a core material for electric vehicle batteries. In the demand forecast for institutional investors held on the 22nd and 23rd, the competition rate reached 1,883 to 1, setting the highest demand forecast competition rate ever among IPOs on both the KOSPI and KOSDAQ.

Moreover, as the last public offering allowing multiple subscriptions this year, SKIET subscriptions led to new account openings at securities firms where subscriptions are possible. For Mirae Asset Securities, which has the largest allocation (2,482,758 shares), the average daily number of newly opened accounts increased significantly from 8,408 during the week of March 25 to March 31 to 61,625 during the recent week of April 20 to April 26. Especially on the 26th alone, 148,630 new accounts were opened. In the case of SK Securities, which had the lowest subscription competition rate for SK Bioscience, investors flocked to branches from early morning as the restriction on multiple non-face-to-face account openings within 20 days was maintained, creating a remarkable scene.

SKIET will be listed on the KOSPI market on the 11th of next month.

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