SKIET IPO Subscription First Day Competition Rate 79 to 1... Deposit Amount 22 Trillion Won (Comprehensive)

[Asia Economy Reporter Ji Yeon-jin] SK Innovation's subsidiary SK IE Technology (SKIET), a separator company for secondary batteries, attracted more than 22 trillion won in subscription deposits from general investors on the 28th, the first day of its public offering subscription. As it is considered the last public offering allowing multiple subscriptions, attention is focused on whether it can break the subscription record of SK Bioscience, which raised the largest subscription deposit this 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 from this day. Subscriptions are made through five securities firms: Mirae Asset Securities, the lead underwriter (allocated 2,482,758 shares), co-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).

On the first day, subscription deposits amounted to 22.1594 trillion won. Among the total 5,347,500 shares, 3,171,263 applications were made for 422,083,690 shares, recording a competition rate of 78.93 to 1.

NH Investment & Securities recorded the most intense competition rate of 221.13 to 1, with 667,981 accounts applying for 422,323,700 shares.

Samsung Securities also recorded a competition rate of 211.19 to 1 with 545,469 applications for 403,327,800 shares. It may be difficult to receive even one share if applying through these two securities firms.

Mirae Asset Securities showed a competition rate of 80.84 to 1, Korea Investment & Securities 59.92 to 1, and SK Securities 46.87 to 1.

SKIET attracted hot 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 IPO demand forecast competition rate across both 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 new accounts opened increased sharply 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 created. In the case of SK Securities, which had the lowest subscription competition rate during SK Bioscience’s subscription, investors flocked to branches from early morning due to the maintenance of restrictions on multiple non-face-to-face account openings within 20 days, 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.