Hyundai Heavy Industries IPO Price Set at 60,000 KRW... Demand Forecast Competition Rate Ranks '2nd Highest Ever'

Offering Price at Top of Expected Range... Offering Amount 1.08 Trillion KRW
1,633 Domestic and Foreign Institutions Participate in Demand Forecast... 20.6% Propose 60,000 KRW

[Asia Economy Reporter Junhyung Lee] Hyundai Heavy Industries has set the public offering price at 60,000 KRW, the top end of the desired range of 52,000 to 60,000 KRW.

Hyundai Heavy Industries announced on the 6th that this decision was made reflecting the results of the institutional demand forecast. Previously, Hyundai Heavy Industries conducted a demand forecast for institutional investors on the 2nd and 3rd for listing on the KOSPI market.

Based on the public offering price, the total amount raised is 1.08 trillion KRW. The market capitalization after listing will be 5.3264 trillion KRW. The number of shares offered is 18 million, with 9.9 million shares (55%) allocated to institutional investors.

A total of 1,633 domestic and foreign institutions participated in the demand forecast. The requested quantity reached 18.1 billion shares, with a total order amount of 1,130 trillion KRW. The competition rate was 1,836 to 1, ranking second highest in the history of IPOs on the KOSPI market. The highest record was SK IE Technology in April, with a competition rate of 1,883 to 1.

Among the institutions that submitted prices, 20.6% offered 60,000 KRW or more. 79.2% offered between 52,000 KRW and less than 60,000 KRW. Institutions that pledged a minimum holding period from 15 days to a maximum of 6 months accounted for 53.1% of the total requested quantity.

Hyundai Heavy Industries will accept general subscriptions for two days starting from the 7th. 4.5 million shares, which is 25% of the total public offering volume, will be allocated to general subscribers. The listing date on the KOSPI market is the 16th of this month.

The company plans to invest 760 billion KRW of the funds raised through the public offering in next-generation ships and eco-friendly technology development. Specifically, funds will be allocated to ▲eco-friendly and digital ship development (310 billion KRW) ▲smart shipyard construction (320 billion KRW) ▲hydrogen infrastructure sector (130 billion KRW), among others.

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