Public offering amount of 84 billion won, total market price of 640 billion won
[This article was reported on "Radar M," a paid media outlet specializing in the capital market in Mail Business, on June 17 (13:32)]
Stradvision, an autonomous vision software company, announced on the 17th that it has confirmed the public offering price at 12,000 won, the lower end of the desired range.
Earlier, Stradvision conducted a demand forecast for institutional investors from the 9th to the 15th, and a total of 1604 companies participated in the competition ratio of 381.30 to 1.
Among the institutions participating in demand forecasting, 66.8% (including the ratio of unproposed price) suggested the price above the desired range of the public offering price.
In particular, in the case of overseas institutions, the entire volume of demand forecasts was above the top. Of these, 26% offered prices that exceeded the top.
However, even though more than two-thirds of institutional investors offered a price above the top (in terms of quantity), Stradvision confirmed the offering price at the bottom of the desired range, covering 99.4% of the demand forecast participation volume.
Kim Joon-hwan, CEO of Stradvision, said, "We secured positive results in the demand forecast, but we decided to confirm the public offering price with the will to increase shareholder value and secure long-term trust in the public offering stock market after listing."
An official from KB Securities, the listing organizer, explained, "Even though the Stradvision offering reached 84 billion won and the market capitalization reached 639 billion won, we secured demand of about 29 trillion won with a competition ratio of 381.30 to 1."
"Considering that imaginary subscriptions have been completely blocked due to the recent system reform, it is analyzed as a result of demand for superior institutions," he added.
Stradvision will hold a two-day subscription for general investors from the 18th to the 19th. The public offering funds will be used to secure R&D personnel for technology advancement and strengthen sales networks of overseas customers.
