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

[Asia Economy Reporter Jang Hyowon] In the fourth week of this month (October), companies such as ITEyes, DearU, Bitnine, GeoElement, and NH All One REIT will conduct demand forecasting. PicoGram and Kakao Pay are preparing for their general subscription.

◆ITEyes= ITEyes is a company established in 2012 specializing in finance core solutions and AI, big data, and cloud platforms. It provides opportunities and infrastructure for clients to innovate across various fields, from core financial business areas to new technology sectors.

The total number of shares offered is 1,777,000, with a desired public offering price range of 12,500 to 14,300 KRW per share. The company will conduct demand forecasting for institutional investors on October 25 and 26, finalize the public offering price on the 28th, and accept general subscriptions on November 1 and 2. It is scheduled to be listed on the KOSDAQ market in mid-November, aiming to raise up to approximately 25 billion KRW based on the desired offering price. The lead underwriter is Shinhan Financial Investment.

◆DearU= Founded in 2017, DearU operates a fandom-based global fan messenger platform business. Its flagship platform, ‘DearU bubble,’ is a global fan messenger platform that enables communication between artists and fans, which has driven the company's performance significantly since its launch with tremendous popularity.

The total number of shares offered is 3,300,000, with a desired public offering price range of 18,000 to 24,000 KRW per share. The company plans to finalize the public offering price through demand forecasting on October 25-26 and conduct general subscription on November 1-2. The lead underwriter is Korea Investment & Securities.

◆Bitnine= Bitnine, established in 2013, is a developer of graph databases. Its main business areas include supplying licenses for graph DB products and providing data analysis solutions based on graph DB. Bitnine is recognized for its unique database analysis technology through the world’s only integrated query multi-model database ‘AgensGraph.’

The total number of shares offered is 2,071,000, with a desired public offering price band of 8,700 to 9,700 KRW, amounting to approximately 18 to 20.1 billion KRW in total. Demand forecasting will be conducted on October 25-26 to finalize the public offering price. The lead underwriter is Hana Financial Investment.

◆GeoElement= Established in 2005, GeoElement supplies core components and materials for ALD (Atomic Layer Deposition) and PVD (Physical Vapor Deposition) processes used in deposition/metal wiring among the eight major semiconductor processes.

This listing will offer 1,547,000 shares. The expected offering price is between 7,600 and 8,700 KRW, with a total offering amount of approximately 11.8 to 13.5 billion KRW. Demand forecasting will be conducted on October 28-29 before listing on the KOSDAQ market. The underwriter is NH Investment & Securities.

◆NH All One REIT= NH All One REIT has built a multi-sector core-plus asset portfolio based on assets such as Bundang Square, A-One Tower Dangsan, A-One Tower Ingye, and Doji Logistics Center. It is a real asset multi-sector REIT investing in various types of core-plus assets, maintaining an average dividend yield of about 7% over 10 years.

The offering price is 5,000 KRW, with 28.1 million shares offered, aiming to raise 140.5 billion KRW through this offering. Demand forecasting for domestic and foreign institutional investors will be held on October 28-29, followed by general investor subscription from November 3 to 5. The lead underwriter is Korea Investment & Securities, with NH Investment & Securities and Daishin Securities participating as underwriters.

◆PicoGram= PicoGram has finalized its public offering price at the upper end of the desired band, 12,500 KRW. The total amount raised will be 12.5 billion KRW, and the market capitalization after listing is expected to be 38.3 billion KRW. A total of 1,499 domestic and foreign institutions participated in the demand forecasting, recording a competition rate of 1,472 to 1, with 63.5% (952 institutions) offering prices above the upper band.

Founded in 2002, PicoGram has grown based on proprietary technology such as the development of a one-touch self-replacement PnP filter system. General investor subscription will be held over two days from October 25 to 26, with the listing scheduled for November 3. General investors can apply for subscription through the lead underwriter, IBK Investment & Securities.

◆Kakao Pay= Kakao Pay has finalized its public offering price at the upper end of the desired band, 90,000 KRW. A total of 1,545 institutions participated in the institutional demand forecasting, recording a competition rate of 1,714 to 1. Among them, 99.99% applied at prices equal to or above the upper band of 90,000 KRW. The total amount of institutional subscription reached 1,518 trillion KRW.

Kakao Pay is the largest comprehensive financial platform in Korea, with 36.5 million cumulative subscribers and approximately 20 million monthly active users (MAU). General investor subscription will be conducted on October 25-26 for 4.25 million shares, which is 25% of the total shares, followed by listing on November 3. Notably, it is the first domestic IPO to allocate 100% of the shares for general subscription equally. Anyone with a minimum subscription of 20 shares and a deposit of 900,000 KRW can participate in the public offering subscription.