Daehan Shipbuilding, which is pushing for a KOSPI listing, announced on the 23rd that its public offering for general investors recorded a competition ratio of 238.1 to 1. The subscription margin totaled about 18 trillion won, the largest since LG CNS in the first half of this year, which had 21 trillion won.
According to the investment banking (IB) industry, approximately 17.86 trillion won in subscription margin was gathered during the general subscription conducted by Daehan Shipbuilding from the 22nd to this day. About 7.94 trillion won was received through KB Securities, which served as the lead manager, while NH Investment & Securities gathered 7.72 trillion won. Shinyoung Securities, as a co-manager, received about 2.2 trillion won.
The total number of subscriptions was reported to be 518,473,000. This figure does not account for duplicate subscription investors and is a preliminary total. Daehan Shipbuilding plans to list on the securities market on August 1st after the payment date on the 25th.
In a preceding demand forecast, 2,106 domestic and international institutions participated, applying for a total of 1.516 billion shares, achieving a successful reception, and the final offering price was set at the upper end of the band, which is 50,000 won. In this process, 57% of all participating institutions proposed a commitment to hold.
Daehan Shipbuilding plans to use the funds secured from this public offering for ▲ the advancement of eco-friendly ship technology ▲ enhancement of design capabilities ▲ investment in marketing to expand global orders. Additionally, some of the funds will be used to repay borrowing funds to improve financial stability.
Established in 1987, Daehan Shipbuilding possesses competitive manufacturing capabilities for medium and large tankers and container ships. Acquired by KHI in 2022, it has diversified its manufacturing types into eco-friendly and high value-added vessels. Last year, its revenue was 1.0746 trillion won, and its operating profit was 158.2 billion won.