The chemicals equipment specialist Hantech succeeded in attracting interest in its initial public offering aimed at retail investors.
Hantech reported on the 7th that it had conducted its initial public offering for retail investors from 4th to this day and recorded a competition rate of 1,397.21 to 1. The total subscription deposit amounted to 6.24 trillion won.
Earlier, Hantech had finalized the final offering price at 10,800 won, the upper limit of the desired range (9,200 to 10,800 won) after conducting demand forecasting for institutional investors. 99.96% of the participation in the demand forecast, including 0.73% that did not provide a price, offered a price above the upper limit of the desired offering price.
Hantech began manufacturing chemicals equipment as the machinery and equipment division of Korea Fertilizer in 1973. After being acquired by Samsung Group in 1994 and changing its name to Samsung Precision Chemical, it became an independent corporation in 1998.
Hantech plans to secure orders in line with the expansion of its liquefied natural gas (LNG) plant investments while also working on diversifying its new business to include the development of ammonia co-firing storage tanks, used nuclear fuel storage devices (CASK), and liquefied carbon dioxide capture storage containers.