Deokyang Energen Achieves 1,354-to-1 Subscription Demand Ahead of KOSDAQ Listing
Deokyang Energen, an industrial hydrogen production company, garnered approximately 13 trillion Korean won in subscription funds ahead of its KOSDAQ listing, achieving a remarkable competition rate of 1,354.4 to 1. The public offering, priced at the upper limit of 10,000 Korean won, is expected to raise 75 billion Korean won and will fund the construction of a distribution center in Ulsan and facility expansions.
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Deokyang Energen, an industrial hydrogen production company, secured approximately 13 trillion Korean won in subscription funds from general investors. As of the 21st, the company reported 12.7 trillion Korean won raised through public share subscriptions conducted from the 20th, resulting in 506,098 requests and a competition rate of 1,354.4 to 1.
The listing, underwritten by NH Investment & Securities and Mirae Asset Securities, is set for the KOSDAQ market on the 30th. The public offering price was finalized at the upper limit of 10,000 Korean won, estimating the public offering amount at 75 billion Korean won and the expected market capitalization at 248.1 billion Korean won. Funds will be allocated for constructing a distribution center in Ulsan and expanding facilities.
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