Solux Confirms IPO Price Band Upper Limit at 10,000 Won... Scheduled for KOSDAQ Listing on November 6

1224 Institutions Participated, Competition Rate Recorded at 1135 to 1
Subscription from 29th to 30th, KOSDAQ Listing on November 6

[Asia Economy Reporter Eunmo Koo] Solux has completed its demand forecasting. LED lighting total solution company Solux announced on the 28th that it finalized the public offering price at 10,000 KRW, the upper end of the desired band (8,000 to 10,000 KRW), based on the demand forecast conducted over two days on the 23rd and 26th targeting domestic and international institutional investors.

A total of 1,224 institutions participated in this demand forecast, recording a simple competition rate of 1,135 to 1. The expected public offering amount is 19.7 billion KRW, and the market capitalization is estimated at 81.6 billion KRW. Solux plans to proceed with subscription for general investors on the 29th and 30th and enter the KOSDAQ market on November 6.

A company representative explained, “99.5% of the application volume concentrated at or above the upper end of the band, demonstrating the market’s high interest and confidence in Solux’s growth potential. Not only has Solux secured unique competitiveness as a rare traditional manufacturing company in the recent IPO market, but also 75.7% of the shares to be listed are subject to lock-up, resulting in a limited number of shares available for circulation, which was also evaluated attractively.”

The funds secured through the public offering will be invested in expanding production capacity. Currently operating at over 95% capacity, the company plans to increase its product production capacity from 1.3 million units to 2.5 million units annually through factory expansion. This aims to respond to new demand driven by the government’s housing supply policy and the blossoming overseas LED lighting market demand, while achieving economies of scale and enhancing price competitiveness for global market expansion.

Kim Bokdeok, CEO of Solux, stated, “After listing, we will not only strengthen our existing B2B, B2G, and ESCO businesses but also actively drive the global general lighting and special lighting markets, laying the foundation for sustainable growth.”