On the First Day of Hyundai Heavy's Subscription, 5.6 Trillion Won Poured In... Competition Rate 40 to 1

[Image source=Yonhap News]

[Asia Economy Reporter Jin-ho Kim] On the first day of the general subscription for Hyundai Heavy Industries' initial public offering (IPO), 5.6 trillion KRW was raised as subscription deposits.

According to Mirae Asset Securities on the 7th, the total subscription deposits collected by the eight securities firms handling Hyundai Heavy Industries' public offering subscriptions amounted to 5.5751 trillion KRW.

Mirae Asset Securities gathered the largest amount with 2.1823 trillion KRW. Following were Korea Investment & Securities with 1.5688 trillion KRW, KB Securities with 707.4 billion KRW, and Samsung Securities with 571.5 billion KRW.

The combined subscription competition rate on the first day was 40.33 to 1. Samsung Securities recorded the highest rate at 91.93 to 1, followed by Mirae Asset Securities at 49.32 to 1, and KB Securities at 39.82 to 1.

A uniform allocation method, which distributes more than half of the subscription volume equally among all subscribers, is applied. Therefore, by paying the minimum subscription deposit of 300,000 KRW for 10 shares, one can expect to be allocated 1 share.

Earlier, Hyundai Heavy Industries set the public offering price at the upper end of the desired range, 60,000 KRW, based on institutional investor demand forecasting. The number of shares offered is 18 million, with 9.9 million shares (55%) allocated to institutional investors.

The listing date on the KOSPI market is scheduled for the 16th.

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