"KRW 3.5 trillion poured in"... Wiseplanet Company records a subscription competition ratio of 1,477.65 to 1

[Financial News] Wiseplanet Company, which is preparing to list on KOSDAQ (Korea Securities Dealers Automated Quotations), recorded a subscription competition ratio of nearly 1,500 to 1 in its recent public offering.
According to the financial investment industry on the 16th, media commerce company Wiseplanet Company recorded a competition ratio of 1,477.65 to 1 in its public offering subscription for retail investors held from the 14th to the 15th. Subscription deposits totaled approximately KRW 3.5464 trillion.
Previously, Wiseplanet Company recorded a competition ratio of 1,248 to 1 in demand forecasting conducted from the 4th to the 10th among domestic and overseas institutional investors. It subsequently set the final offering price at KRW 12,000, the top of the indicative price range. In particular, 99.93% of the shares submitted by participants were priced at or above the top of the range, including cases where no price was specified, confirming strong investment demand from institutional investors.
Along with the successful subscription, the number of shares available for trading at the start of listing was also limited. After first allocating the mandatory portions for high-yield funds and KOSDAQ venture funds under Article 9 of the Regulations on Securities Underwriting Business—10% and 30% of the offering, respectively—the lead underwriter gave preferential allocations of the remaining shares to institutional investors that had committed to mandatory holding periods. Although the number of commitment applications itself was limited, the underwriter actively applied its preferential policy for investors making such commitments during the allocation process, increasing the additional volume voluntarily subject to lock-up. As a result, 1,445,356 shares, or 14.42% of the total, were available for trading on the first day of listing.
The company plans to use the offering proceeds for developing products tailored to the U.S. premium water-care market and establishing direct-to-consumer (D2C) sales channels through Amazon.com, Inc. and its own online store; expanding the Dr. Piel and NUZAM lineups and launching new products under Irenol, Vegetarianism, and Cityfy; and making strategic investments in and acquisitions of consumer-goods brands with high growth potential.
Meanwhile, Wiseplanet Company is scheduled to complete payment on the 17th and list on the KOSDAQ market on the 23rd. Daishin Securities is serving as the lead underwriter.

[email protected] Han Young-jun Reporter