Dukyang Energen Sets IPO Price at 10,000 Won with 650-to-1 Competition Ratio

On January 19, Dukyang Energen, a company specializing in hydrogen, announced that it has set its public offering price at 10,000 won.

This is the upper end of its desired price range (8,500 to 10,000 won). Based on the finalized offering price, the expected market capitalization is 248.1 billion won.

In the demand forecast conducted for domestic and international institutional investors until January 16, a total of 2,324 institutions participated, recording a competition ratio of 650.14 to 1. It was revealed that 100% of the participating institutions (including those who did not specify a price) submitted bids at or above the upper end of the price range.

An official from the lead underwriter stated, "The positive outcome of the demand forecast can be attributed to expectations for the hydrogen industry as a clean energy source, Dukyang Energen's stable profit-generating capability, and the company's proven technological prowess and growth potential demonstrated through the Shaheen Project."

Kim Ki-cheol, CEO of Dukyang Energen, said, "I sincerely thank the investors who highly evaluated the growth potential of the hydrogen industry as well as our company's technology and business viability. We will faithfully carry out our ongoing projects, including the Shaheen Project, and strive to grow into a global top-tier hydrogen company."

Founded in 2020, Dukyang Energen is a specialized company producing high-purity industrial hydrogen. Based on its capabilities in EPC (Engineering, Procurement, and Construction) for hydrogen production plants, the company provides customized total hydrogen solutions through by-product hydrogen and reformed hydrogen production methods.

General subscriptions will be held on January 20 and 21, and the company is scheduled to be listed on January 30. Mirae Asset Securities and NH Investment & Securities are serving as joint lead underwriters.