Daehan Shipbuilding submitted a securities registration statement to the Financial Services Commission on the 24th, initiating the listing process on the Korea Composite Stock Price Index (KOSPI).
The total public offering will be 10 million shares, with a desired price range of 42,000 to 50,000 won. The maximum expected amount to be raised is 500 billion won, and the anticipated market capitalization is between 1.6181 trillion won and 1.9263 trillion won.
Demand forecasting will take place from the 11th to the 17th of next month, and the general subscription will be conducted on the 22nd and 23rd of the same month. The lead underwriters are KB Securities and NH Investment & Securities, with Shinyoung Securities as the joint underwriter.
Daehan Shipbuilding changed its name in 2004 from Shinyoung Shipbuilding Industries, which was established in 1987. The company has been building oil tankers and container ships.
Last year, sales amounted to 1.0746 trillion won, a 32% increase compared to the previous year, and operating profit reached 158.2 billion won, up 340%. Due to improved performance, the debt ratio also improved from 374% to 198% during the same period.
Daehan Shipbuilding plans to invest the funds secured from the listing into areas for future growth. Wang Sam-dong, the representative of Daehan Shipbuilding, noted, “We will strengthen our financial stability and technological competitiveness through this listing.”