Shift-Up, one of the biggest IPO fish this year, has a competitive ratio of 13.23 to 1 on the first day
Jul 02, 2024
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ShiftUp will hold a general public offering of 1,812,500 shares at three places: Korea Investment & Securities, NH Investment & Securities, and Shinhan Investment & Securities from the 2nd to the 3rd. On the 2nd, Korea recorded 14.22 to 1, NH recorded 11.17 to 1, and Shinhan recorded 20.48 to 1, and the combined competition ratio of the three securities companies was 13.23 to 1. The subscription amount was 719.3 billion won, and 227,037 subscribers participated.
Compared to other public offerings, the number of subscribers and subscriptions on the first day was considerably higher, but given that shift-up is one of the top expectations of the year, the first day's performance was below expectations.
The size of the general public offering is KRW 54.375 billion, which is the second largest this year after HD Hyundai Marine Solution, which was listed in May, but the bad atmosphere in the KOSPI and KOSDAQ markets fell 0.84% and 2.04%, respectively, also affected it. In addition, the market situation was not favorable, with the stock price of Innospaces, a private space launch company listed on the day, falling 20.44% from the initial public offering price, and the recent prediction that it will serve as an opportunity to quell the IPO market's ideal craze.
As most of the general public offering subscribers flock to the last day, they will have to wait and see the results on the 3rd, but chances are high that it will fall short of Kakao Games' 58.55 trillion won in September 2020, when the largest number of applications among game stocks were ever collected.
bluesky@sportschosun.com
