Ajusteel IPO Price Set at 15,100 Won... Subscription on 9th-10th
[Asia Economy Reporter Lee Seon-ae] Ajou Steel announced on the 5th that it has set the public offering price at the upper end of the desired range, 15,100 KRW, following the institutional demand forecast for its Initial Public Offering (IPO).
The resulting public offering amount is 104.8 billion KRW, and the market capitalization after listing is 399.4 billion KRW.
A total of 1,428 domestic and international institutions participated in the demand forecast, recording a competition rate of 1,776.9 to 1.
Among the participating institutions, 1,319 institutions, accounting for 92.8%, offered prices at or above the upper limit of the public offering price.
Ajou Steel will proceed with the general subscription on the 9th and 10th and will be listed on the Korea Exchange on the 20th. The lead underwriter is Mirae Asset Securities.
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Lee Hak-yeon, CEO of Ajou Steel, said, "Taking this listing as an opportunity, we will strengthen the foundation for sustainable growth through expanding production capacity and developing innovative products, establishing ourselves as a globally recognized company."
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