Kakao Games Subscription Deposit Approaches 13 Trillion Won in 6 Hours

6 Trillion Won Each Poured into Samsung Securities and Hanhwa Securities... Nearly 1 Trillion Won Also at KB Securities
Competition Rate Reaches 500 to 1... 'Record-Breaking' Popularity Expected

On the 1st, investors are waiting to subscribe to Kakao Games IPO shares at the Samsung Securities Mapo branch in Mapo-gu, Seoul. (Provided by Samsung Securities)

[Asia Economy Reporter Minwoo Lee] Kakao Games, considered the biggest IPO of the second half of the year, has attracted subscription deposits nearing 13 trillion won just half a day after opening subscriptions to general investors. Attention is focused on whether it will surpass the record subscription deposit of 31 trillion won set by SK Biopharm. The subscription competition rate has reached 500 to 1, indicating unprecedented popularity.

According to Samsung Securities, the joint lead manager for Kakao Games' listing, subscription deposits reached 5.8 trillion won as of 2 p.m. About 6 trillion won poured in within six hours since subscriptions began at 8 a.m. Around 9:30 a.m., online subscriptions were temporarily suspended due to a surge of customers. Since the subscription deadline is 4 p.m. on the 2nd, it is expected that subscription deposits at Samsung Securities alone will exceed 10 trillion won.

The competition rate has already surpassed SK Biopharm. As of 2 p.m., it recorded 381.81 to 1. Previously, SK Biopharm's general subscription competition rate was 323 to 1 (combined basis).

Investors are also flocking to Korea Investment & Securities, which is co-managing the listing with Samsung Securities. Korea Investment & Securities, which was allocated the largest quantity, recorded a competition rate of 289 to 1 at the same time. Subscription deposits are about 6 trillion won. Investors have been rapidly gathering since subscriptions began at 11 a.m. that day.

KB Securities, which was allocated the smallest quantity, recorded a competition rate of 490 to 1 at the same time. It is estimated that subscription deposits exceeded 900 billion won when calculated based on the number of subscription shares. The competition rate has been sharply rising even after surpassing 200 to 1 within two hours of subscription opening.

Meanwhile, according to Kakao Games, in this public offering subscription for general investors, 1.76 million shares and 1.28 million shares were allocated to the joint lead managers Korea Investment & Securities and Samsung Securities, respectively. 160,000 shares were allocated to the underwriter KB Securities.