DAEJIN ADVANCED MATERIALS, a corporation specialized in materials for secondary battery processes, has set its public offering price at 9,000 won. This marks a reduction of more than 17% from the lower end of its proposed offering range.
On the 19th, DAEJIN ADVANCED MATERIALS announced that it conducted demand forecasting for institutional investors from the 11th to the 17th, adjusting the public offering price to 9,000 won, which is a 17.4% decrease from the lower end of the band (10,900 won).
Previously, the company had indicated that the public offering price band, set by its underwriter Mirae Asset Securities, was between 10,900 won and 13,000 won.
Among 1,796 institutions that participated in this demand forecast, 1,542 (85.86%) proposed prices below 10,900 won. The final competition rate was recorded at 577 to 1.
DAEJIN ADVANCED MATERIALS, a corporation specialized in materials for secondary batteries, was established in 2019. A major product is a fire prevention tray designed to prevent fires in secondary batteries.
The company plans to offer a total of 3 million shares in this listing, with the public offering amount based on the confirmed public offering price estimated at 27 billion won, and the market capitalization upon listing expected to be around 133.2 billion won.
Mirae Asset Securities noted, "Considering the market conditions, we prioritized pricing that protects investors," adding, "The company will continuously increase its corporate value post-listing."
Meanwhile, DAEJIN ADVANCED MATERIALS is set to go through a public subscription from the 20th to the 21st, with plans to list on the KOSDAQ market on the 6th of next month.