Enchem Sets IPO Price at 42,000 Won, Exceeding Upper Limit... "Demand Forecast Competition Ratio 1647 to 1"

[Asia Economy Reporter Jang Hyowon] Electrolyte manufacturing company Enchem (CEO Oh Jeonggang) announced on the 20th that after conducting a demand forecast for domestic and international institutional investors over two days on the 15th and 18th, the final public offering price was set at 42,000 KRW, exceeding the upper limit of the expected price band (30,000 to 35,000 KRW).

A total of 1,721 institutions from home and abroad participated in this demand forecast, with a simple competition rate of 1,647 to 1. The total public offering amount is expected to be 95 billion KRW, and the market capitalization after listing is projected to be around 634.5 billion KRW. Among the participating institutions, 100% (all 1,721) offered prices exceeding the highest price in the band of 35,000 KRW. The proportion of mandatory lock-up commitments among the total application volume was reported to be about 63.63%.

A representative from Daishin Securities, the lead underwriter, stated, “Most institutional investors regarded Enchem as a company growing alongside the secondary battery industry, which is spotlighted under global eco-friendly policies, and actively participated from the first day of the demand forecast.” He added, “It seems they highly evaluated Enchem’s unique technological capabilities and the already established stable overseas production infrastructure, believing that the company can continue its growth trend in the future.”

Enchem is a company that produces electrolytes, one of the four core materials of secondary batteries (cathode materials, anode materials, electrolytes, separators). Starting as a startup in 2012, it has grown into a representative K-battery materials and components company in South Korea. It succeeded in commercializing the world’s first second-generation electric vehicle electrolyte and established local production plants in the four major battery regions worldwide (the United States, Europe, Korea, and China), building a global production infrastructure.

Enchem plans to use the funds secured through this public offering to invest in expanding overseas factories in countries such as Hungary and China.

CEO Oh Jeonggang said, “I sincerely thank our customers and investors who believed in Enchem’s differentiated competitiveness and growth potential.” He added, “Through this listing, we will continue to grow as a global electrolyte manufacturer that satisfies investors and customers both domestically and internationally through continuous technological development and innovation, and contribute to enhancing the competitiveness of Korean battery companies in the global market.”

Meanwhile, Enchem is scheduled to be listed on the KOSDAQ market on November 1 after a general investor subscription from October 21 to 22. The lead underwriter is Daishin Securities, and Shinhan Financial Investment is the joint underwriter.

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