Two Korean startups that have set up their public issues had opened the subscription for general investors on August 2nd and 3rd. PUBG creator Krafton and AI-based recruitment platform Wanted Lab’s IPO completed the subscription for general investors successfully. 

Krafton estimated market capitalization after listing 24.4 trillion won ($21 billion)

Krafton, which is scheduled to be listed on the KOSPI on August 10, completed the subscription for public offering shares at a margin of 5,355.8 billion won collection, and the final competition ratio was 7.79:1. Krafton allocated 2,596,269 shares, equivalent to 30% of the total public offering volume of 8,654,230 shares, to general investors. A total of 20,223,940 shares were received through Mirae Asset Securities, the lead manager, NH Investment & Securities, the co-host, and Samsung Securities, which participated as the underwriter.

Prior to this, as a result of the demand forecast conducted for institutional investors from July 14 to July 15, 95% of participating institutions offered a price above the upper end, and the final offering price was confirmed at 498,000 won ($432), the highest level of the desired range. In particular, long-term investment-oriented foreign and domestic high-quality investment institutions participated in the demand forecast. 

Kim Chang-han, CEO of Krafton, said, “I think it is meaningful that through this IPO, we can show Krafton’s originality, the spirit of constant challenge, and technology. We will grow into a global company with strong competitiveness through new business development, IP discovery and diversification, and new business expansion,” he emphasized.

Wanted Lab gets 1731 to 1 competition ratio for subscription

Wanted Lab, which operates Wanted, an artificial intelligence (AI)-based recruitment platform, announced the completion of subscription for general investors that recorded a competition ratio of 1731 to 1. Wanted Labs has allocated 182,500 shares to ordinary investors out of the 730,000 shares offered. In the previous demand forecasting for institutional investors, the competition ratio was 1504 to 1. An official from Wanted Lab said, “This is the result of high interest in data-based AI recruitment matching technology, which has led to institutional investors and general investors.” Lee Bok-ki, CEO of Wanted Lab, said, “General investors also recognized Wanted’s AI recruitment matching technology and growth potential.

After completing the general subscription, Wanted Labs will be listed on the KOSDAQ market on August 11. General subscribers who have participated in the public offering have the right to claim redemption for up to six months from the listing date, and the exercise price is 90% of the offering price. The market capitalization after the listing is 164.6 billion won or $143 million based on the IPO price.

 Also Read,

• Korea startup news: Krafton & Wanted Lab IPO price set, Yanolja on buying spree & more
• PUBG creator Krafton shares the future vision & expansion plans ahead of IPO 
• Korean referral recruitment platform startup Wanted Lab registers for IPO
• IPO boom for the Korean market in 2021 as businesses & startups set to debut on the bourses