Hanpass recorded a high competition ratio in the IPO subscription for retail investors.
Hanpass said on Monday it posted a 1,673.04-to-1 ratio in the retail subscription held over two days from March 16 to 17. It logged about 510,000 subscription bids, and deposits were tallied at about 437 billion won.
In earlier institutional bookbuilding, 2,229 domestic and overseas institutions participated, posting a 1,172.59-to-1 ratio. The IPO price was fixed at 19,000 won, the top of the indicated range of 17,000 won to 19,000 won.
Hanpass Chief Executive Kim Kyung-hoon (김경훈) said, "I would like to thank investors for their strong interest and support through the retail subscription." He said the company will use the funds raised in the offering to further strengthen the competitiveness of its foreign resident finance and lifestyle platform and speed up expansion into global markets.
Ji-young Lee
ljy@d-today.co.kr