HD Hyundai Marine IPO priced at top end of $60 apiece

2024.04.25 10:25:01 | 2024.04.25 10:25:22

[Courtesy of HD Hyundai Marine Solution Co.]이미지 확대

[Courtesy of HD Hyundai Marine Solution Co.]

HD Hyundai Marine Solution Co. set its initial public offering (IPO) price at 83,400 won ($60), the top end of its desired band, on avid institutional demand.

HD Hyundai Marine Solution disclosed Wednesday that it has priced its IPO at 83,400 won apiece, after a book-building session that drew 1,805 domestic institutions and 216 foreign institutions.

The competition ratio was at 201 to 1. About 82 trillion won worth of funds were raised, the largest amount this year.

HD Hyundai Marine Solution is the first IPO whose offering price was priced at the highest end of the desired price of between 73,300 won and 83,400 won.

The total offering amount is 742.3 billion won. Upon listing, its market capitalization would be valued at 3.7 trillion won.

HD Hyundai Marine Solution plans to receive public subscriptions on Thursday and Friday. Advisors are KB Securities Co., UBS Group AG, and JPMorgan Chase & Co.

The company plans to debut on the Kospi market on May 9.

By Oh Dae-seok Han Yubin

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