Shindo ENG Lab’s retail order for its initial public offering (IPO) marked a huge turnout with a competition rate of 955.01 to 1.
Korea Investment & Securities, which is underwriting the IPO, said its received subscription orders of 248.301660 million shares for the 260,000 shares, or 20% of the share on offer in the retail offer from June 25 to 26.
The shares drew 1.986 trillion won in deposits, the securities firm said.
Shindo is offering a total of 1.3 million shares for its public offering. In its demand forecast from June 22 to June 23, it fixed the share price ceiling at 16,000 won.
It is aiming to secure 20.8 billion won from the offering. Shindo will be listed on KOSDAQ on July 6.
Shindo manufactures 3D laminator and autoclave equipment used in LCD and OLED production. It said it foresees huge growth from the large investment made in the OLED sector in South Korea and China. It also plans to expand into fuel cells and vacuum glasses.
CEO Woong-ki Park thanked the investors for their interest and vowed to increase the value of the company from its expansion abroad and new businesses.