Model Solution, Public Offering Price Set at 27,000 Won... Subscription on 26-27th

[Asia Economy Reporter Jang Hyowon] The public offering price of Model Solution (CEO Woo Byung-il), a high value-added advanced prototype manufacturing company, has been set at 27,000 KRW.

Model Solution announced on the 23rd that it finalized the public offering price at 27,000 KRW following a demand forecast conducted for institutional investors on the 19th and 20th. A total of 1,736 institutions participated in the subscription of 724,393 shares, which accounts for 72.44% of the total public offering volume, recording a competition rate of 1,725.78 to 1.

Among the institutions participating in the demand forecast, 99.7% proposed a public offering price at or above the upper limit of the desired price band (24,000 to 27,000 KRW), and 91.8% of institutions proposed a price of 30,000 KRW or higher. (Including 8.2% of institutions that did not propose a price.) Accordingly, a total of 27 billion KRW will be raised through this public offering.

The funds raised through the issuance of new shares will be used to strengthen business competitiveness and secure new growth engines by acquiring technology and facilities that meet global market demands and developing proprietary brands.

Woo Byung-il, CEO of Model Solution, stated, “Based on this KOSDAQ market listing, our company plans to advance competitiveness and strengthen new growth engines to become a global product innovation designer. We sincerely thank all institutional investors who showed interest in Model Solution’s public offering, and as we have strived to set a market-friendly public offering price without greed, we ask for your continued interest going forward.”

Model Solution operates major businesses including manufacturing and small-volume mass production services of ▲design prototypes ▲functional prototypes ▲injection molding prototypes, which are necessary in the product development stages of various high value-added industries such as automotive, aerospace, IT & telecommunications, and medical devices. This year, the company started contract manufacturing as a new business.

The company targets the global high-precision prototype market based on top-level computer numerical control machining technology and post-processing competitiveness. One of its core competencies, CMF (Color·Materials·Finish) design, is a unique asset of Model Solution accumulated through projects with various global companies. Additionally, the company offers an ‘ultra-short delivery process’ that completes project orders and machining within up to 7 business days, supporting clients’ rapid product development.

Model Solution’s subscription for general investors will be conducted over two days from the 26th to the 27th for 250,000 shares, which is 25% of the total public offering volume, and it is scheduled to be listed on the 7th of next month. KB Securities is participating as the lead underwriter.

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