LG CNS, which is listing on the Korea Securities Market, is currently receiving public subscription applications from general investors, and it has been identified that over 700,000 shares have emerged from the employee stock ownership association. The forfeited shares will be converted into general subscription shares, increasing the allocation for general investors from the existing 4.84 million shares to 5.55 million shares.
According to the financial investment industry on the 22nd, the competition ratio from the public subscription application results for LG CNS's employee stock ownership association, which took place the previous day, recorded 0.816 to 1. A total of 3,875,438 shares were allocated, of which the number of subscribed shares was 3,162,322.
Earlier, on the 9th, during a press conference for the initial public offering (IPO), Hyun Shin-kyun, CEO of LG CNS, noted that "the subscription rate for the employee stock ownership association is 92%." However, many employees chose not to subscribe, leading to a recorded subscription rate of 81.6%.
LG CNS employees each subscribed to an average of 486 shares (29 million won). This is one-tenth the amount of shares allocated per person (280.63 million won) during the listing of HD Hyundai Marine Solution last year. At that time, HD Hyundai Marine Solution employees recorded a subscription rate of 92.8%.
As forfeited shares emerged from the employee stock ownership association, the allocated amount will be assigned to general investors. The number of shares allocated to general investors will significantly increase from the previous 4,844,298 shares to 5,557,414 shares.
On the first day of listing, the number of shares available for trading will increase from the existing 27,605,544 shares (28.49% of total shares) to 28,313,660 shares (29.22%).