K Auction prices IPO at top end of $17, raising $27 mn in Kosdaq debut

2022.01.12 12:02:35

[Photo provided by K Auction]이미지 확대

[Photo provided by K Auction]

K Auction, one of South Korea`s two leading art auction companies, has priced its initial shares heading for Kosdaq on Jan. 24 at 20,000 won ($16.8), top end of its guidance. Two-day bookbuilding session drew 1,745 institutions for a competition ratio of 1,638.36:1, with 97% placing bid at the top end, according to its underwriter Shinyoung Securities. IPO is valued at 32 billion won and starting market cap at Kosdaq at 178.2 billion won.

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