Daesung Hi-Tech Records 1136.44 to 1 Subscription Competition Rate in General Public Offering... Subscription Deposits Reach 4 Trillion Won

[Asia Economy Reporter Jang Hyowon] Daesung Hitech has succeeded in attracting strong interest in the general subscription following a successful demand forecast.

Daesung Hitech, a company specializing in ultra-precision smart machining solutions that combines traditional technology with innovation (CEOs Choi Wookak and Choi Hohyeong), announced on the 10th that the general public subscription held on the 9th and 10th recorded a competition rate of 1,136.44 to 1. The subscription deposit reached 4.25 trillion KRW.

Earlier, in the demand forecast targeting domestic and foreign institutional investors, the public offering price was set at 9,000 KRW, the top end of the desired offering band. Among the total 1,678 participating institutions, 99.16% (including 5.36% non-disclosure) offered 9,000 KRW or more, and over 60% (including non-disclosure) offered 10,000 KRW or more, showing strong interest from institutional investors.

A representative from Shinhan Investment Corp., the lead underwriter, stated, “In a subscription market where selection is underway, Daesung Hitech’s unique ultra-precision smart machining technology, record-breaking performance and future growth prospects, rapid expansion of secondary battery equipment parts and overseas defense parts orders, and entry into the advanced IT market have attracted significant attention.”

Choi Hohyeong, CEO of Daesung Hitech, said, “As many people show passionate interest in Daesung Hitech, I feel a heavy responsibility,” adding, “Even after listing, we will not lose our original intention and will continue to grow as a global ultra-precision smart machining solutions company to repay the support of our investors.”

Meanwhile, Daesung Hitech is scheduled to be listed on KOSDAQ on the 22nd.