Meatbox Global, a livestock platform corporation, has set the offering price at 19,000 won.
According to investment banking (IB) industry sources on the 10th, Meatbox Global confirmed the offering price at the lower end of the desired range (19,000 to 23,000 won) after conducting a demand forecast for institutional investors from the 2nd to the 8th. The total offering amount is 19 billion won, and the post-offering market capitalization is 105.6 billion won.
A total of 1,988 domestic and international institutions participated in Meatbox Global's demand forecast, recording a competition ratio of 849.95 to 1. The ratio of orders placed below the lower end of the band (19,000 won) reached approximately 94.75% based on requested quantities. 1.24% of orders were placed above 19,000 won and below 23,000 won, while 2.02% were recorded at the upper end of the band (23,000 won). In contrast, the commitment holding ratio was reported at 0%.
Previously, Meatbox Global had proposed a desired offering price range of 23,000 to 28,500 won at the end of last year and sought to list on the KOSDAQ but later withdrew. The market for initial public offerings experienced a downturn, leading to low participation rates from institutional investors and the postponement of the listing. Subsequently, the offering price band was revised down to 19,000 to 23,000 won, and the listing process was resumed.
Founded in 2014, Meatbox Global is a business-to-business (B2B) online platform for livestock distribution. The direct transaction service eliminating intermediaries in the livestock distribution process has attracted interest from restaurants and butcher shops, contributing to its annual growth. In 2022, the company successfully turned a profit, producing an operating profit of 2.6 billion won last year.
Meatbox Global plans to conduct public offering subscriptions for general investors on the 13th and 14th. The scheduled date for listing on the KOSDAQ is January 23. Mirae Asset Securities will serve as the lead underwriter.