Optical equipment specialist AXBIS secured nearly 9 trillion won in deposits from its public subscription for retail investors.
On the 24th, AXBIS said that from the 23rd to this day it conducted a public offering subscription for retail investors and collected about 8.9634 trillion won in subscription deposits.
This subscription was conducted by lead underwriter Mirae Asset Securities. For the 575,000 shares allocated to retail investors, a total of 604,403 applications were submitted for 1,558.85 million shares. The competition rate came to 2,711 to 1.
AXBIS, founded in 2009, is a laser solutions company applied to high-precision manufacturing processes such as bonding, cutting, surface treatment, and heating. Through the third quarter of last year, it posted revenue of 35.1 billion won and operating profit of 4.3 billion won.
AXBIS also drew strong demand in its earlier book-building. A total of 2,411 institutions participated, resulting in a competition rate of 1,124.21 to 1. The final offer price was set at 11,500 won, the top of the indicated range.
AXBIS plans to use the IPO proceeds to expand production capacity (CAPA) and pursue new businesses centered on laser heating. It also aims to expand its business scope into high value-added industries such as semiconductors.
Chief Executive Kim Myeong-jin of AXBIS said, "We thank the investors who showed great interest," and added, "We will leap forward as a corporations leading the global intelligent high-power laser market."
Meanwhile, AXBIS plans to complete payment on the 26th and list on the KOSDAQ market on Apr. 9.