58 trillion won in the offer of Cabin IPO shares… The competition for subscription is 182 to 1

Kakao Bank Seoul office in Yongsan-gu, Seoul. News 1

In the second half of this year, Kakao Bank, which has been considered one of the largest publicly traded companies, has attracted more than 58 trillion won in subscriptions for public offering shares. As funds four times as much as the margin on the first day of subscription were gathered at once on the last day, it was also ranked 5th in the history of the margin for subscription for public offering stocks.

According to the financial investment industry on the 27th, a margin of 58.32 trillion won was received for Kakao Bank subscriptions received by four securities companies over two days from the 26th. About four times the amount of the first day’s margin (12 trillion won) was additionally poured on the same day. As a result, Kakao Bank acquired air shares in △SK IE Technology (80.9 trillion won) △SK Bioscience (63.6 trillion won) △Kakao Games (58.5 trillion won) △Big Hit Entertainment (58.4 trillion won) It ranked 5th in the history of subscription margin rankings.

The average competitive rate for subscription was 182.7 to 1. As the representative organizer, KB Securities, which had the largest amount of allocation, was 168 to 1, and Korea Investment & Securities had the highest competition rate of 207.4 to 1. Hana Financial Investment and Hyundai Motor Securities, which had relatively small allocations, recorded 167.3 to 1 and 178 to 1, respectively.

A total of 1.86 million accounts were gathered at four securities companies. However, the ‘zero-share turmoil’ did not occur as in the previous IPO. This is because the number of subscriptions for each of the four securities companies did not exceed the equal amount. As a result, all subscribers who applied for at least 10 weeks (margin of 195,000 won), which is the minimum subscription unit, can expect to be allocated. It is estimated that the number of shares to be equally allocated through the minimum subscription is 5 shares of KB Securities, 3 shares of Korea Investment & Securities, 4 shares of Hana Financial Investment, and 6 shares of Hyundai Motor Securities.

Now, the focus is on whether or not the ‘dasang (the initial price is doubled and the upper limit goes directly after the opening price is doubled)’ immediately after listing on the KOSPI on the 6th of next month. As the controversy over ‘high valuation’ that the public offering price is higher than that of commercial banks continues, prudence is more dominant about the share price flow after listing.

Based on the IPO price (39,000 won), the market cap is 18,528.9 billion won, the third largest among financial stocks after KB Financial Group (21 trillion won) and Shinhan Financial Group (19 trillion won). If the stock price rises by more than 15% on the first day of listing, it can aim for the top position in the financial industry.

Jo Ah-reum reporter


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