[This Week's IPO] September Fifth Week Demand Forecast and Subscription Schedule

[Asia Economy Reporter Jang Hyowon] In the fifth week of this month (September), Top Material, OSP, SBV Tech, Neuromeka, and Shaperon will conduct demand forecasting for institutional investors. Model Solution and InnoRules are preparing for general subscription.

◆Top Material= Top Material is a subsidiary of Cowintech, a secondary battery automation system company. It provides customized solutions such as system engineering and next-generation cathode materials and high-performance electrode manufacturing to secondary battery manufacturers, focusing especially on developing next-generation cathode materials using manganese, which has price competitiveness, as the main raw material.

The total number of shares offered is 2 million new shares, with a desired offering price range of 27,000 to 30,000 KRW. The expected market capitalization is estimated at approximately 215.7 billion to 239.6 billion KRW. Demand forecasting for institutional investors will be conducted on the 27th and 28th to finalize the offering price. After general subscription by individual investors on the 4th and 5th of next month, it is expected to be listed. Korea Investment & Securities is the lead underwriter.

◆OSP= Established in 2004, OSP mainly operates in pet food manufacturing for companion animals. The company became a subsidiary of Woojin B&G, a specialized animal pharmaceutical manufacturer, in 2019. It leverages the know-how and patented technologies accumulated over 45 years by its parent company to jointly research and develop high-quality feed, creating business synergies.

The total number of shares offered is 2,056,000, with a desired offering price range of 6,300 to 8,400 KRW per share, and the expected offering amount is 12.9 billion to 17.3 billion KRW. The offering price will be finalized through demand forecasting on the 27th and 28th, and general subscription will be conducted on October 4th and 5th. The listing is scheduled for October, with Daishin Securities as the lead underwriter.

◆SBV Tech= SBV Tech develops ultra-thin bearings and harmonic reducers for robots. While most of the market currently imports these parts from foreign (Japanese) sources, SBV Tech is the first domestic mass producer of harmonic reducers, offering competitiveness in delivery time and price.

A total of 1.8 million shares will be offered, with a desired offering price range of 10,100 to 12,400 KRW. The expected market capitalization after listing is approximately 60 billion to 73.7 billion KRW. Demand forecasting will be conducted on the 28th and 29th, followed by general subscription for individual investors on the 5th and 6th of next month. Mirae Asset Securities is the lead underwriter.

◆Neuromeka= Neuromeka, established in 2013, is a collaborative robot specialist company. It is led by CEO Park Jonghoon, a mechanical engineering PhD from Pohang University of Science and Technology with 30 years of experience. The company holds advanced competitiveness in robot control technology, stabilization technology, and teaching technology.

The total number of shares offered is 1.5 million, with a desired offering price range of 14,000 to 16,900 KRW per share, and the expected offering amount is 21 billion to 25.3 billion KRW. Demand forecasting for institutional investors will be held on the 29th and 30th, and general subscription will take place on October 6th and 7th. It is a technology-special listing, scheduled for mid-October. Daishin Securities is the lead underwriter.

◆Shaperon= Shaperon was founded based on the world’s first inflammation initiation theory DAMP, announced by co-CEO Seong Seungyong, a professor at Seoul National University College of Medicine. The company is developing innovative anti-inflammatory therapeutics for inflammatory diseases such as atopic dermatitis, Alzheimer’s dementia, idiopathic pulmonary fibrosis, and COVID-19, based on proprietary inflammasome inhibition technology.

The total number of shares offered is 2,747,000 new shares, with a desired offering price band of 8,200 to 10,200 KRW. The company plans to raise up to 28 billion KRW through this offering. Demand forecasting for institutional investors will be conducted on the 29th and 30th, with the final offering price to be confirmed, followed by subscription on October 6th and 7th. The company is scheduled to be listed on KOSDAQ in October. NH Investment & Securities is the lead underwriter.

◆Model Solution= The offering price was set at the upper end of the desired band, 27,000 KRW. It recorded a competition rate of 1,725.78 to 1 in institutional investor demand forecasting. Accordingly, a total of 27 billion KRW will be raised through this offering. The funds will be used to secure technology and facilities that meet global market demands, develop proprietary brands, strengthen business competitiveness, and prepare new growth engines.

General subscription for individual investors will be conducted over two days, the 26th and 27th, targeting 250,000 shares, which is 25% of the total offering volume. The company is scheduled to be listed on the 7th of next month. KB Securities is the lead underwriter.

◆InnoRules= The desired offering price range is 11,000 to 12,500 KRW per share. Institutional investor demand forecasting was completed by the 23rd, and general subscription will be held on the 27th and 28th. The company is scheduled to be listed in October, with NH Investment & Securities as the lead underwriter.

Established in 2007, InnoRules has grown by developing and providing digital transformation automation software solutions. The company’s main products include the digital decision automation system ‘InnoRules’ and the digital product information automation system ‘InnoProduct’.