[This Week's IPO] April Third Week Demand Forecast and Subscription Schedule

[Asia Economy Reporter Jang Hyowon] In the third week of this month (April), SK IE Technology (SKIET), a secondary battery separator company, will conduct a demand forecast for institutional investors. Business data provider Kukon is preparing for a general public subscription.

◆SK IE Technology= SK IE Technology was established by a physical division of SK Innovation's materials business division and engages in the production and sales of battery materials. Its main business is the wet separator and ceramic-coated separator (CCS) business used in batteries.

In response to the explosively increasing demand for separators, SK IE Technology recently decided to invest 1.13 trillion KRW to build the 3rd and 4th plants in Poland. By 2024, when plants in Korea, Changzhou in China, and Silesia in Poland are all operational, SK IE Technology's annual separator production capacity is expected to reach a total of 2.73 billion square meters.

SK IE Technology's sales last year were 469.3 billion KRW, an increase of 78.4% compared to the previous year. Operating profit and net income also rose by 55.4% and 38.4% to approximately 125.2 billion KRW and 88.2 billion KRW, respectively.

The total number of shares offered by SK IE Technology is 21.39 million shares, accounting for 30% of the total issued shares after the offering. The desired public offering price range per share is 78,000 to 105,000 KRW. The market capitalization is approximately 5.6 trillion to 7.5 trillion KRW. The demand forecast will be conducted on the 22nd and 23rd, followed by a general subscription on the 28th and 29th. The lead underwriters are Mirae Asset Securities and JP Morgan, with co-underwriters Korea Investment & Securities and Credit Suisse (CS).

◆Kukon= Business data provider Kukon recorded a competition rate of 1594.61 to 1 in the demand forecast for institutional investors and set the public offering price at 45,000 KRW, exceeding the top of the desired price band of 40,000 KRW. Through this, it plans to raise a total of 72.5 billion KRW.

The total number of shares offered is 1,612,319 shares, with 25% or 403,080 shares allocated to general investors. The subscription for general investors will be held on the 19th and 20th, and the company is scheduled to be listed on the KOSDAQ market at the end of this month. The lead underwriter is Hana Financial Investment, and the co-underwriter is Samsung Securities.

Kukon is an affiliate of Webcash, a B2B fintech specialist, and its main business is data collection and connection. Last year's consolidated performance showed operating revenue of 51.3 billion KRW, operating profit of 11.2 billion KRW, and net income of 18.8 billion KRW. Compared to the same period last year, operating revenue increased by 24.56%, and operating profit and net income rose by 80.17% and 106.39%, respectively. The operating profit margin was 21.88%.