Gaon Chips, IPO Price Set at 14,000 Won

[Asia Economy Reporter Hyungsoo Park] Gaon Chips has set its public offering price at 14,000 KRW.

Gaon Chips announced on the 6th that it recorded a simple competition rate of 1,847.12 to 1 as a result of conducting demand forecasting for institutional investors over two days from the 2nd to the 3rd.

The final public offering price exceeded the upper limit of the desired range of 11,000 to 13,000 KRW. A total of 1,903 domestic and international institutions participated in the demand forecast. Among the participating institutions, 99.89% offered prices at or above the upper limit price of 13,000 KRW. With the public offering price confirmed, the offering size is expected to be 28 billion KRW, and the market capitalization after listing is expected to be about 160.8 billion KRW.

A representative from Daishin Securities, which underwrote the listing, said, "The majority of institutional investors highly evaluated Gaon Chips' process technology and stable financial performance," adding, "They regarded it as a company with great growth potential in line with the increasing demand for high-performance system semiconductors due to the Fourth Industrial Revolution."

Gaon Chips plans to use the funds secured through the public offering for research and development and overseas market expansion. It will continue to invest in developing semiconductor chips essential for new industries such as automotive, artificial intelligence (AI), and the Internet of Things (IoT). Starting with the establishment of a branch office in Japan, the company aims to expand its presence to the Americas and Europe and become a global design solution company.

Jung Gyudong, CEO of Gaon Chips, emphasized, "We will use the listing as a stepping stone for growth and become a company that meets investors' expectations through continuous technological development and innovation."

Gaon Chips will hold a general investor subscription over two days from the 11th to the 12th and will be listed on the KOSDAQ market on the 20th.

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