AXBIS, an intelligent high-power laser solution corporations, set the top end of its IPO price range through bookbuilding for institutional investors.
Exbis said on the 19th that it confirmed the final IPO price at the top end of 11,500 won.
A total of 2,411 domestic and overseas institutional investors participated in this bookbuilding, applying for 1,939,267,000 shares. The competition ratio was 1,124.21 to 1. All of the orders proposed a price at or above the top end of the band, 11,500 won.
Based on the confirmed IPO price, AXBIS's offering amount is about 26.5 billion won. Its market capitalization after listing is expected to be 107.3 billion won.
The proportion of lockup commitments by institutional investors was also 78.1% (1,883 institutions). Of these, 41.68% (1,005 institutions) pledged a long-term lockup of three months or more, and institutions with six-month commitments accounted for 13.15% (317 institutions).
An official at the lead manager said, "AXBIS has maintained steady revenue growth since its founding without a single year of negative growth," and "it posted operating profits every year."
Kim Myeong-jin, AXBIS CEO, said, "Thanks to the strong interest and support from institutional investors, we were able to successfully complete the bookbuilding," and "even after listing on KOSDAQ, we will grow into a global intelligent high-power laser solution corporations leading a paradigm shift in next-generation industries through continuous technological innovation."
Meanwhile, AXBIS plans to hold a public subscription on the 23rd and 24th of this month and debut on the KOSDAQ market on Mar. 9. The lead manager is Mirae Asset Securities.