[This Week's IPO] Demand Forecast and Subscription Schedule for the Fourth Week of May

[Asia Economy Reporter Jang Hyowon] In the fourth week of this month (May), Cheongdam Global will conduct a general subscription.

◆Cheongdam Global= Cheongdam Global announced on the 20th that it has set the public offering price at 6,000 KRW, reflecting the results of institutional investor demand forecasting. This price is 29% below the lower end of the expected price range (8,400?9,600 KRW). A total of 176 domestic and international institutions participated in the demand forecast, recording a competition rate of 25 to 1.

The company eliminated the sale of existing shares and reduced the number of new shares to be issued from 5,813,212 shares to 5,073,349 shares. Accordingly, the total number of shares offered decreased from 6,341,686 shares to 5,073,349 shares. Due to the adjustment of the public offering price and the number of shares, the total offering amount decreased from the previous 53.2 billion to 60.8 billion KRW to 30.4 billion KRW.

Cheongdam Global plans to conduct a subscription for general investors on the 24th and 25th and is scheduled to be listed on the KOSDAQ market on the 3rd of next month. The lead underwriter is KB Securities, and the joint underwriter is Daishin Securities.

Cheongdam Global is a company that provides total solutions covering the entire process from product discovery, development, and sourcing to overseas online/offline distribution, mainly targeting global beauty brand companies such as cosmetics and perfumes. Notably, as the only domestic company, it operates as a primary vendor on China’s ‘Jingdong.com,’ one of the very few worldwide.