LS Materials IPO Price Set at 6,000 Won... 'Exceeds Upper Limit of Expected Range'

LS Materials, which is preparing for a KOSDAQ listing, announced on the 30th that it has set the public offering price at 6,000 KRW, exceeding the top end of the expected range (4,400?5,500 KRW) based on the demand forecast from institutional investors.

The demand forecast, conducted until the 28th, received 2,025 bids, recording a competition rate of 396.8 to 1. The total public offering amount is approximately 87.8 billion KRW.

The company explained, "Institutional investors applied for 4,190,282,000 shares, about 400 times the allocated amount," and added, "All institutional investors who submitted price bids placed orders at prices above the top end of the public offering price range."

It further stated, "Major shareholders voluntarily extended their lock-up period up to 18 months," and "It is expected that there will be no overhang issues caused by a large volume of shares being released all at once after listing."

As a member of the LS Group, the company manufactures energy storage devices called UC (Ultra Capacitor), used in electric vehicles and renewable energy power generation, and supplies them to companies related to secondary batteries and wind power generation.

LS Materials plans to proceed with general subscription on the 1st and 4th of next month and list on the KOSDAQ market on the 12th. The joint lead managers are KB Securities and Kiwoom Securities, with NH Investment & Securities, eBest Investment & Securities, and Hi Investment & Securities participating as underwriters.

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