Sena Technologies, a wireless communication device maker seeking to list on KOSDAQ, said on the 31st that it set its offering price at 56,800 won, the top end of its desired range, based on institutional investor demand forecasts.
A total of 2,168 domestic and overseas institutions took part in the bookbuilding. Of them, 97.1% indicated 56,800 won or above, the top end of the desired range, leading to the offering price being set at the top. The competition ratio was 976.9 to 1.
The total offering size is 31.8 billion won, and the market capitalization after listing is 316.8 billion won. Subscriptions from retail investors will be taken on the 4th to 5th of next month, with the listing on the 14th of the same month. KB Securities and Shinhan Investment Corp. are serving as joint lead managers.
Founded in 1998, Sena Technologies makes hands-free communication devices used for motorcycles, bicycles, and adventurous outdoor activities. It holds the No. 1 position worldwide for products used for motorcycle team communications.
The company posted, on a consolidation basis last year, sales of 167.5 billion won, operating profit of 21.6 billion won, and net profit of 19.0 billion won. The operating margin was 12.9% and the net margin was 11.3%.