[This Week's IPO] Demand Forecast and Subscription Schedule for the Fourth Week of July

[Asia Economy Reporter Jang Hyowon] In the fourth week of this month (July), KakaoBank and HK inno.N will conduct demand forecasting targeting institutional investors. Everybot is preparing for a general subscription.

◆KakaoBank= KakaoBank is an internet bank that started its service in 2017 and, as of the end of May, has secured 16.53 million customers. Based on customer growth, KakaoBank's mobile application monthly active users (MAU) ranked first in 2019 and reached 13.35 million as of the end of March this year.

In the past year, new customers aged 50 and above have increased. Customers opening new accounts aged 50 and above account for 30%, expanding their share to 15% of the total customers.

KakaoBank turned profitable in 2019, just two years after starting customer services, and its net profit increased to 113.6 billion KRW in 2020. Operating revenues, including interest income and non-interest income, grew at an average annual rate of over 120% from 2017 to 2020.

The demand forecasting deadline for domestic and overseas institutional investors is scheduled for July 21, and the general subscription is planned for July 26-27. KB Securities and Credit Suisse (CS) Seoul Branch are the lead underwriters, with Citigroup Global Markets Securities as a joint underwriter.

◆HK inno.N= Established in 2014, HK inno.N is a company primarily engaged in prescription pharmaceuticals and the health, beauty, and beverage (HB&B) business. Its core competencies include ▲new drug and bio research and development (R&D) capabilities ▲excellent manufacturing capabilities ▲a stable product portfolio.

HK inno.N developed the new drug for gastroesophageal reflux disease treatment, ‘K-CAB (K-Cap).’ K-Cap achieved the number one domestic market share (M/S) and sales of 100 billion KRW within six months of launch due to its rapid and superior efficacy compared to existing acid secretion inhibitors.

Going forward, HK inno.N plans to accelerate global expansion and continuously expand new businesses through its 30th new drug, K-Cap. In particular, K-Cap will strengthen its global market approach through country-specific tailored strategies.

HK inno.N’s total number of shares offered is 10,117,000, with an expected offering price of 50,000 to 59,000 KRW per share, and a total offering amount of approximately 505.8 billion to 596.9 billion KRW. Demand forecasting will be held on July 22-23, subscription on July 29-30, and the company plans to enter the KOSDAQ market in early August. Korea Investment & Securities, Samsung Securities, and JP Morgan Securities are the underwriters.

◆Everybot= Robot vacuum cleaner company Everybot has set its public offering price at the upper end of the desired range, 36,700 KRW, based on the results of institutional demand forecasting. A total of 778 institutions participated in the demand forecasting, recording a competition rate of 576.74 to 1. The number of shares offered is 1.12 million, with a total offering amount of 41.1 billion KRW.

Founded in 2015, Everybot developed a robot vacuum cleaner dedicated to wet mopping. Last year, leveraging price competitiveness and technological capabilities, it achieved sales of 49.2 billion KRW and operating profit of 13 billion KRW.

Robot vacuum cleaners hold a dominant market share within the household service robot market. As the number of dual-income households, single-person households, and households with pets gradually increases, the robot vacuum cleaner market is expected to be positively influenced.

Everybot will conduct a general subscription on July 19-20 and plans to be listed on the KOSDAQ market on July 28. NH Investment & Securities is the lead underwriter.

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