[Asia Economy Reporter Jang Hyowon] In the last week of this month (September), K Car will conduct a demand forecast. Aspllo, Wonjun, and CU Tech are preparing for their general subscription.
◆K Car= K Car is the largest direct-operated used car platform company in Korea, launched in October 2018 after being acquired by the private equity fund (PEF) Hahn & Company in April 2018. Based on 20 years of accumulated know-how, K Car leads industry innovation with a direct-operated system that manages the entire process from used car purchase, diagnosis, management, sales, to after-sales responsibility. Last year, the total number of cars sold reached 112,909 units.
K Car plans to offer a total of 168,302,88 shares through this IPO. The expected public offering price range is 34,300 to 43,200 KRW per share, with a total expected public offering amount of approximately 577.3 billion to 727.1 billion KRW. The demand forecast will be conducted on the 27th and 28th to finalize the public offering price, followed by subscription from the 30th to October 1st. The company is scheduled to be listed on the KOSPI market in October. The lead underwriters are NH Investment & Securities and Goldman Sachs.
◆Aspllo= Aspllo set its public offering price at 25,000 KRW, exceeding the upper limit of the desired price band of 19,000 to 22,000 KRW. The total amount raised is 15.75 billion KRW, and the post-listing market capitalization is expected to be around 111.1 billion KRW. The subscription competition rate was 2,142.7 to 1, marking the highest demand forecast competition rate ever recorded. After subscription on the 27th and 28th, Aspllo is scheduled to enter the KOSDAQ market on October 7th. The lead underwriter is Mirae Asset Securities.
Founded in 2001, Aspllo has grown by successfully domesticating semiconductor process gas components for the first time in Korea. It possesses a unique lineup capable of producing all parts related to gas processes and has maintained a long-term partnership of over 15 years as a first-tier vendor to global semiconductor companies Samsung Electronics and SK Hynix based on its excellent products.
◆Wonjun= Wonjun finalized its public offering price at 65,000 KRW on the 17th, exceeding the upper limit of the desired range (60,000 KRW) based on the demand forecast results for institutional investors. The expected market capitalization after listing is approximately 331.1 billion KRW. The public subscription will be held on the 27th and 28th. The lead underwriter is NH Investment & Securities.
Wonjun, which succeeded in securing the original technology of RHK sintering furnaces necessary for producing cathode materials, a core material of secondary batteries, has established itself as a leading Korean company by accumulating various references in the heat treatment equipment field. The funds raised through the KOSDAQ listing will be used for research and development and facility investment to strengthen global business and diversify the business portfolio.
◆CU Tech= CU Tech's desired public offering price band is 5,100 to 5,600 KRW, with an expected public offering amount of about 26.7 billion KRW. The demand forecast was conducted on the 23rd and 24th, and the general subscription is planned for the 28th and 29th. The lead underwriter is Daishin Securities.
Established in 2004, CU Tech is a specialized SMT (Surface Mount Technology) company focusing on FPCA (Flexible Printed Circuit Assembly) used in OLED (Organic Light Emitting Diode) panels. Last year, on a consolidated basis, the company recorded sales of 221.7 billion KRW, operating profit of 16 billion KRW, and net profit of 10.6 billion KRW.
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