SKIET Records Highest Ever Subscription Competition Rate... Additional Allocation of General Public Offering Volume

General Public Subscription Competition Rate Records 239.06 to 1... Expanded Participation Opportunities for Individual Investors
5% of Employee Stock Ownership Association Forfeited Shares Additionally Allocated to General Shares

[Image source=Yonhap News]

[Asia Economy Reporter Song Hwajeong] SK Innovation's materials business subsidiary SK IE Technology (hereinafter SKIET) has achieved the largest subscription deposit in the history of initial public offering (IPO) subscription.

According to Mirae Asset Daewoo on the 30th, SKIET recorded a subscription competition rate of 239.06 to 1 and a subscription deposit of approximately 80.5366 trillion won during the two-day public subscription for general investors held on the 28th and 29th. The subscription deposit recorded by SKIET surpasses the previous record of 63.6198 trillion won set by SK Bioscience in March, marking the largest subscription deposit ever.

SKIET also set the highest competition rate in IPO demand forecasting across both KOSPI and KOSDAQ with a rate of 1883 to 1 during the institutional investor demand forecast conducted on the 22nd and 23rd.

SKIET and the underwriting consortium decided to allocate an additional 5% (1,069,500 shares, 112.3 billion won) of the forfeited shares from the employee stock ownership association to the general public in order to expand participation opportunities for individual investors amid high interest in the public offering market.

Established in 2019 through a physical division from SK Innovation, SKIET is a global top-tier materials solution company producing the highest quality lithium-ion battery separator (LiBS). It will be listed on the KOSPI market on the 11th of next month.

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