The Born Korea, General Subscription Competition Rate 772.80 to 1... "12 Trillion Gathered"

TheBORN Korea, which is in the process of conducting a public offering aiming for a KOSPI listing, announced that it held a public subscription for general investors over two days from the 28th to the 29th, recording a competition rate of 772.80 to 1. The subscription deposit amount was estimated at approximately 11.8238 trillion KRW.

CEO Baek Jong-won of Theborn Korea is giving a corporate presentation at Theborn Korea IPO briefing held at Conrad Hotel in Yeongdeungpo-gu, Seoul on the 28th. Photo by Kang Jin-hyung

During the demand forecast conducted over five days from the 18th to the 24th of this month, 2,216 institutions participated, achieving a competition rate of 734.67 to 1. The public offering price was set at 34,000 KRW, exceeding the upper limit of the desired price range of 23,000 to 28,000 KRW.

After listing, TheBORN Korea plans to enhance its dining business and expand B2B (business-to-business) distribution channels into corporate and military catering to establish a stable cash cow. It will also embark on full-scale business expansion through regional development and festival projects. Through 'TheBORN Food Service Industry Development Institute,' the first public-private partnership dining startup education institution established in Korea, the company plans to promote coexistence with local communities by developing dining menus and brands using local specialties and providing consulting to revitalize regional festivals.

In overseas markets, TheBORN Korea aims to accelerate growth by ensuring stable operation of 149 directly operated franchise stores and creating new opportunities through various forms of overseas franchise expansion, including master franchises. Additionally, it will actively export K-food products such as Baek Ramen, Baekdabang, and HMR, distributing sauces and other products suitable for local dietary habits and trends mainly through overseas franchise stores, thereby expanding the base of K-food leadership.

A representative of TheBORN Korea said, "We thank the investors who contributed to the successful demand forecast and the good results in the general subscription. After listing, we will continue to uphold 'coexistence' as the company's core value and become TheBORN Korea that grows together with franchise stores and shareholders."

TheBORN Korea is scheduled to complete payment on the 31st of this month and list on the KOSPI market on the 6th of next month. The listing is underwritten by Korea Investment & Securities and NH Investment & Securities.