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

[Asia Economy Reporter Jang Hyowon] In the third week of this month (October), Simone Accessory Collection, Picogram, Kakao Pay, and Geninus will conduct demand forecasting for institutional investors. iFamilySC, GNB S Engineering, Refine, and Enchem are preparing for general subscription.

◆Simone Accessory Collection= Simone Accessory Collection (hereafter ‘Simone’), which was spun off from Simone in 2015, operates a luxury handbag ODM business. The company's core competencies include ▲overwhelming market dominance based on long-standing experience ▲establishment of a full-service platform covering design, production, quality assurance, and launching ▲solid partnerships with global luxury brands ▲the industry's largest production capacity.

Simone Accessory Collection plans to conduct demand forecasting on the 18th and 19th and general subscription on the 25th and 26th. The total number of shares offered is 8.37 million, with a desired offering price range of 39,200 to 47,900 KRW per share. The underwriters are Samsung Securities, Mirae Asset Securities, and Korea Investment & Securities.

◆Picogram= Picogram is a company that manufactures and sells materials, filters, and water purifiers in the environmental and water treatment sectors based on proprietary technology. It successfully entered the B2C market by launching the direct water purifier ‘Purial’ applying its own technology and has maintained continuous growth with an average annual sales growth rate of 18.1%.

Picogram’s total offering shares are 1 million, consisting of 900,000 new shares and 100,000 existing shares. The desired offering price per share is 11,000 to 12,500 KRW, with a total offering amount of 11 to 12.5 billion KRW. Demand forecasting will be conducted over two days on the 19th and 20th, followed by general subscription on the 25th and 26th. The underwriter is IBK Investment & Securities.

◆Kakao Pay= Kakao Pay is a tech-fin company that introduced Korea’s first simple payment service in September 2014 and launched as an independent corporation in April 2017. To date, it has accumulated 36 million users, with an annual transaction volume of 67 trillion KRW last year and 22.8 trillion KRW in the first quarter of this year alone.

Demand forecasting for institutional investors will be conducted on the 20th and 21st to finalize the offering price, followed by general subscription on the 25th and 26th, with a planned listing on November 3rd. The total number of shares offered is 17 million, with the offering price adjusted to 60,000 to 90,000 KRW per share, aiming to raise approximately 1.53 trillion KRW (based on the upper limit of the price band). The lead underwriters are Samsung Securities, JP Morgan Securities, and Goldman Sachs Securities, with Daishin Securities as a co-underwriter. Korea Investment & Securities and Shinhan Investment Corp. will also participate as underwriters.

◆Geninus= Geninus is a company spun off in 2018 from the Samsung Genome Research Institute under the Samsung Medical Center’s Future Medicine Research Institute. Although it is a startup only three years old, it passed the highest grade in technology evaluation among genome diagnostic companies in June this year, recognizing its technological capability and growth potential.

The number of shares offered is 2 million, all newly issued. The desired offering price band is 24,700 to 32,200 KRW, with an expected offering amount of 49.4 to 64.4 billion KRW. Demand forecasting for domestic and foreign institutional investors will be conducted over two days from the 21st to 22nd of next month, followed by subscription on the 27th and 28th, aiming for a KOSDAQ listing in November. Geninus plans to use the funds raised through the IPO for research and development, facility investment, and overseas market expansion. The lead underwriter is Daishin Securities.

◆iFamilySC= iFamilySC operates cosmetics businesses such as ‘Rom&nd’ and ‘iColor’ and wedding businesses including ‘iWedding’ and ‘Hotel Cranberry’.

The total number of shares offered is 978,000. The desired offering price is 39,000 to 48,000 KRW, with an expected offering amount of 38.1 to 46.9 billion KRW. Demand forecasting for institutional investors was conducted on the 12th and 13th, and general subscription will be held on the 18th and 19th. The listing underwriter is Samsung Securities.

◆GNB S Engineering= Established in 2005, GNB S Engineering primarily produces eco-friendly semiconductor process equipment.

GNB S Engineering plans to offer a total of 1.425 million shares. The desired offering price band is 14,300 to 17,400 KRW, with an expected offering amount of 20.4 to 24.8 billion KRW. Subscription will be held on the 19th and 20th. The underwriter is Samsung Securities.

◆Refine= Refine is a prop-tech company that integrates information technology (IT) into the real estate and financial markets to provide non-face-to-face services.

This time, 4.33 million shares are being offered. The desired offering price is 21,000 to 24,000 KRW, with an expected offering amount of 90.9 to 103.9 billion KRW. General subscription will be held on the 20th and 21st, with a planned KOSDAQ listing on the 29th. The listing underwriter is KB Securities.

◆Enchem= Established in 2012, Enchem produces electrolytes, one of the four core materials (cathode, anode, electrolyte, separator) for secondary batteries. Enchem ranks first globally in sales growth rate among electrolyte companies (average annual growth rate of 83.2% from 2013 to 2020). Its customers include LG Energy Solution, SK Innovation, and CATL.

This time, 2,262,625 shares are being offered, with an offering price of 30,000 to 35,000 KRW per share, and a total offering amount of 67.8 to 79.2 billion KRW. Demand forecasting for institutional investors will be conducted by the 18th, followed by general subscription on the 21st and 22nd. The company plans to list on KOSDAQ in early November. The lead underwriter is Daishin Securities, with Shinhan Investment Corp. as co-underwriter.