Samsung Securities Opens Nighttime IPO Subscription... First Among Mega IBs
[Asia Economy Reporter Ji-hwan Park] Samsung Securities announced on the 10th that it will be the first among mega investment banks (IBs) to extend the online subscription hours for public offering stocks until 10 PM.
The extension of the subscription hours applies to online subscriptions on the first day of the offering. Char Vaccine Research Institute, scheduled for subscription on the 7th and 8th of next month, will be the first target.
With this extension of online subscription hours, it is expected to be more convenient for investors, such as office workers, who mainly utilize evening hours to subscribe to public offering stocks. Existing lead underwriters have generally accepted subscription applications from 8 AM to 4 PM. Samsung Securities stated that accepting subscription applications after 6 PM is the first among mega investment banks (IBs).
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A Samsung Securities official said, "Recently, more than 95% of public offering stock subscriptions have been conducted online," adding, "Moreover, since many young people in their 20s and 30s, who are presumed to have difficulty utilizing daytime hours, have entered the securities market, it is expected that their public offering stock subscriptions will become more active with this extension of online subscription hours."
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