[This Week's IPO] Demand Forecast and Subscription Schedule for the Third Week of March

[Asia Economy Reporter Jang Hyowon] In the third week of this month (March), Voronoi and G2 Power will conduct demand forecasting for institutional investors. Gonggu Woman and SeAH Mechanics are preparing for general subscription.

◆Voronoi= Voronoi is developing targeted therapeutics that inhibit the function by binding to kinases, proteins that transmit signals inside and outside cells. By combining global-level experimental (Wet-Lab) data accumulation capabilities with artificial intelligence (AI) models, the candidate substance derivation period has been shortened to one to one and a half years, about one-third of the usual time. Based on this, since 2020, it has succeeded in four technology transfers, including three overseas and one domestic, and currently holds 11 pipelines. Voronoi was the first company to receive preliminary approval for listing using the newly established market evaluation excellent company special case (Unicorn Special Case) system on KOSDAQ in April last year.

The number of public offering shares is 2 million, and the total shares after listing will be 13,333,949. The desired public offering price per share is 50,000 to 65,000 KRW, resulting in a market capitalization of 666.7 billion to 866.7 billion KRW. Demand forecasting for institutional investors will be conducted on the 14th and 15th, followed by general subscription on the 21st and 22nd. The underwriters are Korea Investment & Securities and Mirae Asset Securities.

◆G2 Power= Established in 2010, G2 Power provides IT solutions for condition monitoring and diagnosis (CMD) of industrial equipment based on IoT, ICT, and AI-based CMD technology. The company installs and supplies intelligent CMD to industrial equipment vulnerable to electrical safety accidents such as switchgear, solar power generation systems, and ESS, as well as various public facilities.

The number of shares to be offered is 885,000, with an expected public offering price of 13,500 to 16,400 KRW, totaling approximately 11.9 billion to 14.5 billion KRW. Demand forecasting will be held on the 17th and 18th, and subscription on the 22nd and 23rd. The underwriters are Korea Investment & Securities and KB Securities.

◆Gonggu Woman= Gonggu Woman has finalized the public offering price at 20,000 KRW. A total of 294 domestic and foreign institutions participated in the demand forecasting, recording a simple competition rate of 56.91 to 1. The public offering amount is 22.4 billion KRW, and the market capitalization after listing is about 73.4 billion KRW. Gonggu Woman will enter the KOSDAQ market on the 23rd after general investor subscription on the 14th and 15th. The listing underwriter is Mirae Asset Securities.

Gonggu Woman operates a D2C specialized mall for plus-size women. The company is a first-generation enterprise in the domestic plus-size women's fashion industry, leading the market since the early 2000s, and has proven its competitiveness by securing 440,000 members.

◆SeAH Mechanics= Established in 1999, SeAH Mechanics develops and produces automotive and electronic parts based on proprietary aluminum die casting technology. Die casting is a special casting method where molten metal is poured into a mold at high pressure and speed and solidified.

The total shares offered are 6.65 million, with 4.45 million new shares (66.9%) and 2.2 million existing shares (33.1%). The desired public offering price per share is 3,500 to 4,000 KRW. The expected maximum public offering amount is 26.6 billion KRW (18.6 billion KRW based on new shares issuance). The market capitalization after listing is 105.9 billion KRW based on the upper limit of the public offering price. General subscription will be held on the 15th and 16th, followed by listing on the KOSDAQ market at the end of this month. The listing underwriter is Shinhan Investment Corp.