iFamilySC Confirmed IPO Price at 25,000 KRW

CEOs Decide Not to Proceed with Secondary Share Sales

[Asia Economy Reporter Gong Byung-sun] iFamilySC announced on the 15th that it has set the public offering price at 25,000 KRW based on the demand forecast results from institutional investors.

This price is 36% lower than the lower end of the expected price range of 39,000 KRW. The underwriters explained, "Considering the recently sharply depressed stock market sentiment, we finalized a market-friendly public offering price," and added, "The CEOs decided not to conduct a secondary share sale, demonstrating their commitment to responsible management." A secondary share sale refers to the public sale of some shares already held by existing shareholders, such as general shareholders, to the public.

With the cancellation of the secondary share sale, the total number of shares offered decreased from 978,000 to 819,200 shares. A total of 187 domestic and foreign institutional investors participated in iFamilySC's demand forecast, recording a competition rate of 63.1 to 1.

iFamilySC plans to receive general subscriptions on the 18th and 19th and to be listed on the KOSDAQ market at the end of this month. The listing underwriter is Samsung Securities.

Founded in 2000, iFamilySC operates cosmetics businesses such as 'Rom&nd' and 'iColor,' as well as wedding businesses including 'iWedding' and 'Hotel Cranberry.'

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