Kkumbee's IPO Price Set at 5,000 Won, Exceeding Expected Range... Competition Rate 1547.13 to 1

[Asia Economy Reporter Jang Hyowon] The offering price of Kkumbee, a premium infant furniture specialist company (CEO Park Younggeon), has been set at 5,000 KRW.

Kkumbee announced on the 30th that following a demand forecast conducted for institutional investors on the 26th and 27th, the offering price was finalized at 5,000 KRW, exceeding the upper limit of the expected band of 4,000 to 4,500 KRW. A total of 1,590 institutions participated in the subscription for 1.4 million shares, which accounts for 70% of the total offering volume, resulting in a competition rate of 1,547.13 to 1.

Among the institutions participating in the demand forecast, 90.2% (including 0.3% who did not specify a price) proposed an offering price of 5,000 KRW or higher, and the rate of applying for lock-up commitments was 12.01%. The total offering amount is approximately 10 billion KRW based on the finalized offering price, and the funds flowing into the company through new share issuance (87.5%) will be used to build a smart factory aimed at reducing product costs and securing logistics warehouse space.

Park Younggeon, CEO of Kkumbee, said, “The current public offering market atmosphere is on the rise, and since 90.2% of the institutions participating in the demand forecast proposed an offering price of 5,000 KRW or higher, we expect good results in the upcoming general subscription as well.” He added, “We deeply thank the institutional investors who have shown interest in Kkumbee’s listing, and we will accelerate strengthening our business capabilities and enhancing investor trust through the KOSDAQ listing.”

Founded in 2014, Kkumbee manufactures and sells infant playroom mats, bedding, and wooden furniture based on solid technology and marketing capabilities optimized for infants and children. The company developed transformable bumper beds and wooden furniture with maximized usability through structural design capabilities, winning the world’s top three design awards (‘iF’, ‘RED DOT’, ‘IDEA’) and the ‘3 Million Dollar Export Tower’. Additionally, the company secured 388 patents and design rights during the product development planning process.

The company’s flagship product, the infant mat, recorded cumulative sales exceeding 400,000 units as of December last year, featuring various product lines according to usage and a dust-resistant structural design, with cumulative reviews surpassing 30,000. Furthermore, the company is advancing as a comprehensive infant goods company by launching the infant skincare brand ‘Organic Ground’ and the living care brand ‘Babadito’, and is diversifying its business by launching the pet supplies brand ‘Pamiya’, which has a consumption cycle similar to infant products.

Meanwhile, Kkumbee’s general investor subscription will be conducted over two days from January 31 to February 1, targeting 500,000 shares, which is 25% of the total offering volume, and is scheduled to be listed on February 9. Kiwoom Securities is managing the listing.