Samsung Biologics attracted 10.1988 trillion won in its initial public offering conducted on November 2 and 3. Korea Investment & Securities, the lead manager of the IPO, announced that day that it received 149,982,340 share subscription requests for 3,308,261 public offered shares and the competition ratio soared from 4.1:1 to 45.34:1 on the second day.
Earlier, Cheil Industries, which is now Samsung C&T, and Samsung SDS recorded a competition ratio of 195:1 and 134:1, respectively. When it comes to the size of subscription deposit, Samsung Biologics ranks fifth behind Cheil Industries (30 trillion won), Samsung Life Insurance (19 trillion won), Samsung SDS (15 trillion won) and KT&G (11 trillion won).
Given the competition ratio, a subscription deposit of 100 million won is equivalent to 16 shares.
Market experts are saying that the result is pretty positive in view of today’s market conditions. “It can be seen as a success in that the local IPO market has been rather sluggish throughout the second half of this year and stock market conditions are uncertain and not that optimistic these days with the U.S. presidential election around the corner,” Korea Investment & Securities explained.