VFX specialist company M83 announced on the 9th that it has set the public offering price at 16,000 KRW following a demand forecast conducted over five trading days from the 1st to the 7th targeting domestic and international institutional investors. The total offering size is approximately 24 billion KRW, with a market capitalization of 124.6 billion KRW.
A total of 2,128 institutions from both domestic and overseas markets participated in the demand forecast, recording a competition rate of 1,024.72 to 1.
A representative from Shin Young Securities, the lead underwriter, stated, "M83 appears to have been positively evaluated for achieving a top-tier position in the industry within a short period since its establishment and for maintaining high profitability compared to other companies."
The funds secured through the initial public offering (IPO) will be invested in overseas expansion to strengthen its position in the global VFX market. The company aims to enter the North American and European markets by acquiring VFX company A, located in Europe.
Jung Sung-jin, CEO of M83, said, "Through the listing, M83 will make every effort to leap forward as a global comprehensive studio based on its advanced VFX technology and manpower."
M83 will proceed with a general subscription from the 12th to the 13th and will be listed on the KOSDAQ market on the 22nd. Shin Young Securities is in charge of the listing underwriting.
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