ASICLAND Records a Subscription Competition Ratio of 759.88:1 for General Public Offering
Subscription Deposit of 6.26 Trillion Won
Subscription Deposit of 6.26 Trillion Won
▶ A total of 261,509 shares applied for… Subscription deposit amounts to 6.26 trillion won
▶ Success in General Public Offering following Demand Forecasting… Listing on KOSDAQ on November 13
[2023-11-03] ASICLAND, the only TSMC VCA (Value Chain Alliance) in Korea, succeeded in its general public offering following a successful demand forecasting.
ASICLAND, a leading company in ASIC (Application-Specific Integrated Circuit) design solutions, announced on the 3rd that it had conducted a public offering subscription for general investors on November 2-3, achieving a competition ratio of 759.88:1. The resulting subscription deposit was approximately 6.26 trillion won.
From October 23-27, ASICLAND conducted a demand forecasting with domestic and foreign institutional investors, including large overseas funds such as FMR and Blackrock, and sovereign wealth funds, receiving significant interest. The final public offering price was set at 25,000 won, exceeding the upper band of the desired range (19,100 won to 21,400 won).
A representative from Samsung Securities, the lead underwriter, stated, "Many investors actively participated in the subscription, evaluating the company as having high sustainability due to its growth alongside TSMC and Arm, and its benefits from the Fourth Industrial Revolution, including AI." The representative added, "Following the successful demand forecasting, the general public offering also showed excellent results, once again proving ASICLAND's competitiveness."
ASICLAND plans to use the funds raised from this IPO to:
▲ Fully enter the core global fabless market in the U.S.
▲ Recruit R&D and project personnel
▲ Invest in new business expansion through IP business investments
Lee Jong-min, CEO of ASICLAND, expressed his gratitude by saying, "We sincerely thank all the investors who positively evaluated the corporate value of ASICLAND. We will continue to communicate actively with our shareholders and advance as a leading global ASIC company after the listing."
Meanwhile, ASICLAND is scheduled to complete payment on November 7 and list on the KOSDAQ market on November 13.
ASICLAND Records a Subscription Competition Ratio of 759.88:1 for General Public Offering
Subscription Deposit of 6.26 Trillion Won
Subscription Deposit of 6.26 Trillion Won
▶ A total of 261,509 shares applied for… Subscription deposit amounts to 6.26 trillion won
▶ Success in General Public Offering following Demand Forecasting… Listing on KOSDAQ on November 13
[2023-11-03] ASICLAND, the only TSMC VCA (Value Chain Alliance) in Korea, succeeded in its general public offering following a successful demand forecasting.
ASICLAND, a leading company in ASIC (Application-Specific Integrated Circuit) design solutions, announced on the 3rd that it had conducted a public offering subscription for general investors on November 2-3, achieving a competition ratio of 759.88:1. The resulting subscription deposit was approximately 6.26 trillion won.
From October 23-27, ASICLAND conducted a demand forecasting with domestic and foreign institutional investors, including large overseas funds such as FMR and Blackrock, and sovereign wealth funds, receiving significant interest. The final public offering price was set at 25,000 won, exceeding the upper band of the desired range (19,100 won to 21,400 won).
A representative from Samsung Securities, the lead underwriter, stated, "Many investors actively participated in the subscription, evaluating the company as having high sustainability due to its growth alongside TSMC and Arm, and its benefits from the Fourth Industrial Revolution, including AI." The representative added, "Following the successful demand forecasting, the general public offering also showed excellent results, once again proving ASICLAND's competitiveness."
ASICLAND plans to use the funds raised from this IPO to:
▲ Fully enter the core global fabless market in the U.S.
▲ Recruit R&D and project personnel
▲ Invest in new business expansion through IP business investments
Lee Jong-min, CEO of ASICLAND, expressed his gratitude by saying, "We sincerely thank all the investors who positively evaluated the corporate value of ASICLAND. We will continue to communicate actively with our shareholders and advance as a leading global ASIC company after the listing."
Meanwhile, ASICLAND is scheduled to complete payment on November 7 and list on the KOSDAQ market on November 13.