[Asia Economy Reporter Park So-yeon] Jeju Maekju, a craft beer specialist company, announced on the 12th that it has set the public offering price at 3,200 KRW, exceeding the upper limit of the expected price range, based on the results of institutional demand forecasting.
The total amount of the public offering is 26.8 billion KRW.
A total of 1,447 domestic and international institutions participated in the demand forecast, resulting in a competition rate of 1,356.43 to 1. Among the participating institutions, 99.45% proposed prices at or above the upper limit of 2,900 KRW.
The company explained that the number of participating institutions and the competition rate are the highest records among non-bio companies listed under the special case for unprofitable companies.
Jeju Maekju will proceed with general subscription on the 13th and 14th and will be listed on the KOSDAQ market on the 26th. The listing sponsor is Daishin Securities.
Moon Hyuk-gi, CEO of Jeju Maekju, said, "After listing, we will strengthen our research and development capabilities centered on the technology research institute and increase our market share in the domestic and international beer markets by utilizing the global distribution network."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
