OpenEdge, General Public Offering Competition Rate 78.2:1... Listing on the 26th

20,945 Subscription Applications · 330.8 Billion KRW Subscription Deposits
Performing Well Compared to Institutional Demand Forecasts

[Asia Economy Reporter Kwangho Lee] The results of the general subscription for Open Edge Technology, a semiconductor design specialist company, have been announced. The final competition rate was 78 to 1. This recorded a higher competition rate in the general public offering subscription compared to the institutional demand forecast.

According to Samsung Securities, the lead underwriter, on the 16th, the final competition rate for Open Edge Technology's general public offering subscription was 78.2 to 1. The number of subscription cases was 25,945, and the subscription quantity was 66,152,320 shares. The collected subscription deposit amounted to 330.8 billion KRW.

It is analyzed that the competition rate of 44.3 to 1 secured in the previously conducted demand forecast led to the sluggish competition rate in the general subscription. More than 80% of the institutions participating in the demand forecast proposed prices lower than the lower end of the desired public offering price (15,000 to 18,000 KRW). Accordingly, Open Edge lowered the public offering price by more than 30% to 10,000 KRW and proceeded with the general subscription.

As a result, the public offering amount decreased to 33.9 billion KRW, and the market capitalization dropped to 208.7 billion KRW. The circulating volume was reduced to about 25.5%, and the resale of existing shares was cut by 47%.

Meanwhile, Open Edge has 30 clients including domestic and international semiconductor fabless companies and design houses. Based on the public offering price, the expected market capitalization is 280.7 billion KRW, and it will be listed on the KOSDAQ market on the 26th.

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