The fintech corporation Dozn, which is challenging to be listed on the KOSDAQ market, has set the final public offering price at 9,000 won.
Dozn noted on the 11th that, as a result of conducting demand forecasting for institutional investors from the 28th of last month to the 7th of this month, it has confirmed the final public offering price at 9,000 won, below the desired range of 10,500 won to 12,500 won.
The total public offering amount is 22.5 billion won, and the market capitalization after listing is 212.1 billion won. A total of 1,366 institutions participated in this demand forecasting, achieving a competition rate of 461.95 to 1.
Dozn is a corporation that engages in business-to-business (B2B) transactions based on financial infrastructure. It established financial infrastructure by entering the corporate financial value-added network (VAN) business in 2019 through its proprietary dualization technology.
Dozn expanded its business into various sectors, including cross-border settlement services, loan comparison services, and currency exchange kiosk services. The corporation's sales rose from 6 billion won in 2020 to 42.1 billion won in 2023, growing at an average annual rate of 92%. During the same period, operating profit increased dramatically from 1.9 billion won to 10.7 billion won.
Dozn plans to use the funds secured through this public offering for global business expansion through its subsidiaries in Singapore and Indonesia. It will also be used for acquiring overseas fintech startups for cross-border payments and fund mergers and acquisitions (M&A), as well as for purchasing and operating unmanned currency exchange kiosks.
Dozn CEO Jo Cheol-han said, “We aim to become a leading B2B business innovation corporation in the global market through expanded global outreach.”
Dozn is scheduled to undergo a public subscription for general investors on the 12th and 13th and will be listed on the KOSDAQ market on the 24th.