S&SYS, a consolidated solution corporation for shipbuilding materials, announced on the 5th that it has set its public offering price at the upper limit of the desired range (30,000 won), which is between 27,000 and 30,000 won. The public offering amount is 57 billion won, and the expected market capitalization after listing is approximately 283.1 billion won.
From the 28th of last month to the 1st, a total of 2,336 institutions participated in the demand forecast for institutional investors, recording a competition rate of 739.2 to 1. More than 99.9% (including prices not presented) of the total participation quantity suggested prices above the upper band. The mandatory holding commitment rate based on the application quantity is 27.4%.
S&SYS is a shipbuilding materials solution corporation established in June 2017 after being spun off from the electronic division of Samsung Heavy Industries. It directly develops, produces, and provides maintenance for key ship and offshore plant materials such as switchboards, ballast water treatment systems, and operational control solutions.
S&SYS plans to use the funds raised for ▲ expanding production capacity (CAPA) ▲ establishing new factories and equipment investments ▲ expanding the customer portfolio ▲ entering new businesses in land, offshore, and defense sectors.
Bae Jae-hyuk, CEO of S&SYS, said, "We will do our utmost to expand infrastructure and advance technology to actively respond to global demand," adding, "We will establish ourselves as a leading corporation in the global shipbuilding and marine market."
S&SYS plans to conduct public subscriptions for individual investors on the 7th and 8th, and is expected to list on the KOSDAQ market within this month. Shinhan Investment Corp. is in charge of the listing.