[Asia Economy Reporter Jang Hyowon] Nanoteam, a specialized company in thermal management materials for electric vehicle batteries (CEO Choi Yoonseong), announced on the 21st that the subscription competition rate for public offering shares targeting general investors over two days from the 20th to 21st was recorded at 1637.43 to 1 in real-time results.
Accordingly, the subscription deposit was estimated at approximately 5.4547 trillion KRW, with the number of subscription cases recorded at 338,032. In the prior demand forecast conducted for institutional investors, the public offering price was confirmed at the upper end of the desired band (11,500 to 13,000 KRW), at 13,000 KRW.
A representative from Korea Investment & Securities, the lead underwriter for the listing, said, “Many investors evaluated Nanoteam as a core material company performing well in the growing electric vehicle industry and actively participated in the subscription,” adding, “Following the demand forecast, great results were also shown in the general subscription, once again proving Nanoteam’s competitiveness.”
After listing, Nanoteam plans to secure global customers in Europe and North America and launch new products to expand sales of thermal management materials for electric vehicles. Furthermore, it intends to enter various industries where batteries are used, such as ESS, UAM, and electric ships, beyond electric vehicles.
Choi Yoonseong, CEO of Nanoteam, said, “I sincerely thank the investors who believed in Nanoteam’s value and future growth potential and supported us following the demand forecast,” and added, “We will grow into a global leader in thermal management materials through continuous technology development and customer expansion, meeting investors’ expectations with good performance.”
Meanwhile, Nanoteam is scheduled to complete payment on February 23 and list on the KOSDAQ market on March 3. The lead underwriter is Korea Investment & Securities.
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