IPO's Biggest Names Set Records and Draw Crowds... Will the Momentum Continue into Next Year?

KakaoBank, Krafton, and Others Plan IPOs Next Year

Kakao Games Listed on KOSDAQ (Photo by Korea Exchange)

[Asia Economy Reporter Kum Boryeong] SK Biopharm, Kakao Games, and Big Hit Entertainment, which were considered the biggest IPOs in the second half of this year, succeeded in setting various records and attracting great attention. This momentum is expected to be carried on next year by Kakao Bank, Krafton, and SK Bioscience.

According to the financial investment industry on the 9th, the total subscription deposit for SK Biopharm's general subscription held on June 23-24 was recorded at 30.9889 trillion KRW. This surpassed the 30.0649 trillion KRW set by Cheil Industries six years ago, breaking the all-time record. The competition rate was 323.02 to 1.

After SK Biopharm, the IPO market gained more vitality through Kakao Games. Kakao Games, which was listed on the KOSDAQ market last month, recorded a final general subscription competition rate of 1524.85 to 1 and a subscription deposit of 58.5543 trillion KRW. This marked a new history in the IPO market.

Big Hit, which conducted the last general subscription among the biggest IPOs in the second half on the 5th-6th, recorded a final competition rate of 606.97 to 1 and a subscription deposit of 58.4237 trillion KRW. Although it did not break Kakao Games' record, it surpassed SK Biopharm and set a new KOSPI record.

The SK Biopharm KOSPI listing ceremony is being held at the Korea Exchange in Yeouido, Seoul. Photo by Mun Ho-nam munonam@

This enthusiasm is likely to continue next year. Several companies, including Kakao Bank, Kakao Pay, Krafton, SK Bioscience, and One Store, are already preparing for IPOs targeting next year.

Kakao Bank held a board meeting on the 23rd of last month and resolved to pursue an IPO aiming for a listing in the second half of next year. Jeon Baeseung, a researcher at Ebest Investment & Securities, explained, "As of the end of August, Kakao Bank's customer base reached 12.94 million, with loan and deposit balances of 18.3 trillion KRW and 22.3 trillion KRW respectively, maintaining a high growth trend. The loan growth rate in Q2 this year increased by 54% compared to the same period last year, and an average of 200,000 new customers have been added monthly this year." He added, "High listing value expectations have been formed based on growth potential and differentiation." Kakao Pay has also selected KB Securities as its lead underwriter and has begun the listing process.

In addition, Krafton, which gained attention through the success of 'Battlegrounds,' is aiming for a listing next year. SK Bioscience is also planning an IPO next year and selected its underwriter in July. One Store has completed the selection of its underwriter and plans to complete its IPO in the second half of next year.