[This Week's IPO] April Third Week Demand Forecast and Subscription Schedule

In the third week of this month (April), Kochip and HD Hyundai Marine Solutions will conduct demand forecasting for institutional investors. Jeil M&S is preparing for a general subscription.

◆Kochip= Kochip, established in 1994, is a specialized manufacturer of ultra-small secondary batteries, primarily producing carbon-based 'ChipCell Carbon' and lithium-based 'ChipCell Lithium' secondary batteries. With 31 years of experience, it manufactures ultra-small secondary batteries used in various downstream industries.

In this IPO, 1.5 million shares will be offered. The expected price range per share is 11,000 to 14,000 KRW, with the upper limit amounting to approximately 21 billion KRW. Demand forecasting for institutional investors will be conducted from the 15th to the 19th to finalize the offering price, followed by a general subscription on the 24th and 25th. The lead underwriter is Korea Investment & Securities.

◆HD Hyundai Marine Solutions= HD Hyundai Marine Solutions was established as an independent corporation in 2016 to respond to the growing demand for aftermarket (AM) services for ships. Since then, in line with the global eco-friendly trend of ship decarbonization and digitalization, it has gradually expanded its business scope from existing ship AM services to eco-friendly retrofitting and digital solutions.

In this IPO, 8.9 million shares will be offered. HD Hyundai Marine Solutions will issue 4.45 million new shares (50%), and the second-largest shareholder, KKR (a private equity fund), will sell 4.45 million shares out of its 15.2 million shares as existing shares. The largest shareholder, HD Hyundai, holding 24.8 million shares, will not sell any existing shares.

The expected price range per share for HD Hyundai Marine Solutions is from 73,300 KRW to 83,400 KRW, with a total expected offering amount between 652.4 billion KRW and 742.3 billion KRW. Demand forecasting will take place from the 16th to the 22nd, and the general subscription will be held on the 25th and 26th. The lead underwriters are KB Securities, UBS, and JP Morgan, with Shinhan Investment Corp. and Hana Securities as joint underwriters. Samsung Securities and Daishin Securities are also included in the underwriting group.

◆Jeil M&S= In this IPO, 2.4 million shares will be offered entirely as new shares. The expected offering price is between 15,000 and 18,000 KRW per share, with a total offering amount of 36 billion to 43.2 billion KRW. Demand forecasting was conducted until the 12th, and the general subscription will be held on the 18th and 19th, aiming for a KOSDAQ listing within April. The lead underwriter is KB Securities.

Jeil M&S is Korea's first specialized mixing equipment company with over 40 years of technology and experience. Starting with supplying equipment specialized for food and pharmaceuticals, it has expanded into secondary batteries, defense, and chemicals. Recently, it has continued a sharp growth in orders due to aggressive facility investment expansion by its major client, Selmaker.