Qurite, IPO Price Set at 44,000 Won, 14% Lower Than Expected

[Asia Economy Reporter Jang Hyowon] QRT, a semiconductor development chip reliability analysis specialist company, has set its public offering price at 44,000 KRW, 14% lower than the lower end of the desired price range, following demand forecasting from institutional investors.

QRT announced on the 21st that during the demand forecasting conducted on the 18th and 19th for 742,875 shares, which is 75% of the total 990,500 public offering shares allocated to institutional investors, a total of 389 institutions participated, recording a competition rate of 86.9 to 1, and the public offering price was finalized at 44,000 KRW. The funds raised through this public offering, which was conducted entirely through new share issuance, amount to a total of 43.582 billion KRW.

A representative from Mirae Asset Securities, the lead underwriter, explained, “Institutional investors who participated in the demand forecasting agreed with the company’s emphasized business competitiveness and growth potential, but considering various factors such as the recent contraction of the IPO market, we agreed to set the public offering structure in a market-friendly manner.”

QRT’s general public subscription will be conducted from the 24th to the 25th for 247,625 shares, which is 25% of the total public offering shares, and the company is scheduled to be listed on the KOSDAQ market next month.

The company plans to use the public offering funds for operational and facility expenses. The strategy is to strengthen market dominance by expanding infrastructure, including increasing research and development personnel in the equipment development and service advancement sectors, and additionally acquiring equipment used in the technology evaluation sector.

Kim Youngbu, CEO of QRT, said, “We thank the investors who participated in the demand forecasting, believing in QRT’s competitiveness and growth potential in the semiconductor reliability testing and analysis market,” and added, “After listing, we will continue steady investment in research and development and secure excellent research personnel to become a leading company in the global market.”

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