This year, DN Solutions, considered the largest player in the initial public offering (IPO) market, has officially begun the public offering process aiming for a listing on the KOSDAQ. As it conducts a large-scale public offering following LG CNS, market attention is focused.
On the 14th, DN Solutions submitted a securities registration statement to the Korea Exchange. This comes about three months after passing the preliminary review at the Exchange on Dec. 11 of last year. The lead underwriters for DN Solutions are Mirae Asset Securities, Samsung Securities, and UBS Securities. Korea Investment Securities and Bank of America (BofA) are listed as co-underwriters.
DN Solutions will offer a total of 17,357,000 shares in this public offering. Of this, 7,576,594 shares, which account for 43.20% of the total public offering stock, will be newly issued. Shares held by financial investors (FI) amounting to 9,964,406 shares (56.80%) will be sold as existing shares. The company’s total number of issued shares (scheduled for listing) will be 63,137,073.
The desired public offering price range is set between 65,000 and 89,700 won. The expected market capitalization after the listing is projected to be between 4.1039 trillion won and 5.6633 trillion won. LG CNS, considered the largest player in this year's IPO market, had a public offering amount of 1.1994 trillion won, and its market capitalization as of the day is 5.009 trillion won.
DN Solutions plans to finalize the public offering price after demand forecasting for institutional investors from April 22 to 28. Subsequently, the company intends to conduct public subscriptions for general investors on May 7-8.
DN Solutions plans to use the funds secured from this public offering for investments to maintain competitiveness in the machine tool sector, to expand its automation platform business, and to accelerate digital transformation. In particular, the company aims to enhance applications that evolve machine tools into smart machines and to strengthen cell unit automation capable of unmanned operation by combining machine tools with automation devices.
DN Solutions is a machine tool manufacturer that competes for the top position in the domestic machine tool market and ranks third globally in the metal cutting machine market. Last year, the company recorded approximately 2.1023 trillion won in consolidated revenue and 436.2 billion won in operating profit.
Kim Won-jong, CEO of DN Solutions, said, "DN Solutions has grown into a leading company in the global machine tool industry with its unique technological capabilities accumulated over nearly 50 years," adding, "We aim to leap to a globally top-tier manufacturing automation platform company through this listing."