Jeil M&S is rising 60% on its first day of listing on KOSDAQ.
As of 9:52 a.m. on the 30th, Jeil M&S was trading at 35,250 won, up 13,250 won (60.23%) from the public offering price.
Jeil M&S, established in 1986, is a specialized company in secondary battery mixing equipment. In 2007, it domestically produced and commercialized mixing equipment for secondary batteries for the first time in Korea. Additionally, it has one of the largest product lineups in the country, with about 20 products.
Jeil M&S conducted a demand forecast targeting domestic and foreign institutional investors from April 5 to 12. 100% of the application quantities were offered at or above the upper band of 18,000 won. Among these, 96.4% submitted prices above 23,000 won, leading to the final public offering price being set at 22,000 won, exceeding the upper limit of the expected band (15,000 won to 18,000 won).
As a result of the public subscription for general investors, the competition rate recorded was 1,438.96 to 1. The subscription deposit amounted to approximately 9.4971 trillion won, and the number of subscription cases was announced as 486,581.
Yoon Cheol-hwan, a researcher at Korea Investment & Securities, said, "Jeil M&S significantly increased its order backlog from 118.9 billion won in 2022 to 303.3 billion won in 2023," adding, "The orders are evenly distributed among major clients, so we judge that the visibility of performance is high."
However, he noted, "Since there have been some fluctuations in the upstream industries recently, we conservatively forecast sales reflecting the possibility that equipment delivery and installation may be partially delayed within this year," and predicted, "This year's sales and operating profit are expected to increase by 94.9% and 1,130.3% year-on-year to 279 billion won and 21.7 billion won, respectively."
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