Saebitchem Exceeds Top of IPO Price Band at 35,000 Won... Subscription Rate 1670.9 to 1

[Asia Economy Reporter Jang Hyowon] Saevitchem, a specialized company in secondary battery recycling (CEO Park Mingyu), announced on the 25th that it conducted a demand forecast targeting domestic and international institutional investors over two days from the 20th to 21st. A total of 1,767 institutions participated, recording a competition rate of 1,670.9 to 1, and the public offering price was finalized at 35,000 KRW, exceeding the top end of the expected price band (25,000 to 30,000 KRW).

The total public offering amount is 37.45 billion KRW, and the market capitalization after listing is 166.4 billion KRW based on the finalized public offering price.

A representative from Korea Investment & Securities, which underwrote the listing, stated, “97.49% of the application volume exceeded the top end of the band, and 36.9% of institutional investors submitted commitments. All investors actively participated, placing a premium on Saevitchem’s differentiated recycling refining and tuning technology, plans to expand CAPA more than threefold by 2024, and securing top major customers in the upstream industry as clear investment points.”

Saevitchem is demonstrating a high operating profit margin twice that of its peers, based on an industry-leading 95% recovery rate of valuable metals and cost competitiveness through process simplification.

After listing, by utilizing the public offering funds, Saevitchem plans to enhance its stable response capacity to major customer volumes through the production of 18,000 tons of precursor composite solution based on production facilities expanded more than threefold by 2024 compared to the existing scale.

Additionally, by registering a technology patent capable of extracting high-purity lithium carbonate, the company will expand into new items and enter the recycling business for used batteries due to the aging of electric vehicle batteries. In particular, it is evaluated to secure high business competitiveness through the completion of continuous rapid wet technology, which can drastically shorten the discharge period compared to existing methods.

Park Mingyu, CEO of Saevitchem, expressed his aspirations, saying, “I sincerely thank the institutional investors who showed great interest in Saevitchem’s initial public offering (IPO). We will further strengthen Saevitchem’s growth DNA, which has sought new growth engines based on our core items since our founding, and achieve sound growth as a total solution company in the eco-friendly recycling industry.”

Meanwhile, Saevitchem is scheduled to be listed on the KOSDAQ market on August 4th after subscription by general investors on the 26th and 27th.

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