DearU, IPO Price Set at 26,000 KRW... Demand Forecast Competition Rate Ranks Third Highest Ever

[Asia Economy Reporter Ryu Tae-min] Global fan platform company DearU announced on the 28th that it has finalized the public offering price at 26,000 KRW after institutional investor demand forecasting on the 25th and 26th. This amount exceeds the upper limit of the previously desired public offering price range (18,000 to 24,000 KRW).

A total of 1,763 institutions participated in the demand forecasting, marking the highest number this year. The final demand forecasting competition rate was 2,001 to 1, ranking third highest among KOSDAQ-listed companies. Notably, overseas institutions accounted for 17.58% of all participating institutions. 99.89% of the bids were above the upper limit of the band. Based on the finalized public offering price, the total public offering size is 85.8 billion KRW, and the market capitalization is 524.3 billion KRW.

DearU plans to use the public offering proceeds for acquiring global artists and investing in technology advancement such as the metaverse.

DearU's subscription for general investors will be conducted on November 1-2, targeting 825,000 shares, which is 25.0% of the total public offering volume. It is scheduled to be listed on the KOSDAQ on the 10th of next month, with Korea Investment & Securities as the lead underwriter.

DearU provides a monthly subscription message service where artists and fans communicate through the platform 'Bubble'.