KNSINC, a satellite communication antenna solutions company preparing to list on the KOSDAQ market, fixed the top end of its IPO price range through a book-building for institutional investors.
KNSINC said on the 3rd that it set the offering price at the top end, 11,000 won.
The book-building ran on the 27th to 31st of last month with 2,024 domestic and overseas institutional investors participating. The competition ratio was 938.24 to 1, and 98.32% (including those without price indications) of the participating institutions indicated 11,000 won or higher, the top end of the price band (9,000–11,000 won).
Based on the fixed offering price, KNSINC's market capitalization is about 112.9 billion won.
KNSINC was founded in 2001 and operates a satellite communication antenna solutions business spanning commercial, military, and ESA flat-panel antennas. Recently, it has been expanding beyond a portfolio centered on commercial and military antennas into the next-generation flat-panel antenna market. Funds raised through this IPO will be used to expand research and development personnel for military and ESA flat-panel antennas and to advance infrastructure, introduce ESA measurement and RF design software, and secure core raw materials such as RF communication components.
Chief Executive Jin Byeong-uk of KNSINC said, "Even after the KOSDAQ listing, we will leap forward as a global intelligent high-power laser solutions company that leads the paradigm shift of next-generation industries through continuous technological innovation."
Meanwhile, KNSINC plans to take general subscriptions on the 4th to 5th of this month and debut on the KOSDAQ market on the 13th. The lead underwriter is IBK Securities.