Krafton Subscription ‘Box Office Failure’… Final Competition Ratio of 7.79 to 1, Margin 5 Trillion Won
NSP NEWS, By soon ki Lee Journali
END7, Read 0(Seoul=NSP News Agency) soon ki Lee Journalist = As the general subscription of Krafton, ‘IPO Giant’ has been completed, evaluations of a ‘predicted subscription box office failure’ continue.
In the meantime, the controversy over the overvaluation of Krafton’s corporate value has continued. In particular, as a result of the institutional demand forecast, the fact that Krafton’s competition ratio was as low as 243.15:1 despite the fact that an imaginary number was included, that the compulsory protection commitment ratio was only 22.05% based on the number of applications, that overseas institutions’ mandatory holding commitment rate is only 1.88%, and that the amount of available distribution was high at 41.47% can be seen as a reluctance to subscribe to Krafton.
In addition, it is analyzed that Krafton’s excessive dependence on Battlegrounds in its sales structure, and excessively hopeful valuation that ignores the characteristics of the game industry, also led to ignoring investment in Krafton. The final competition ratio of the final Krafton public offering stock general subscription was confirmed to be 7.79:1. By brokerage firm, Miraeasset Securities was 9.50:1, Samsung Securities 6.88:1, and NH Investment & Securities 6.72:1.
In the meantime, the controversy over the overvaluation of Krafton’s corporate value has continued. In particular, as a result of the institutional demand forecast, the fact that Krafton’s competition ratio was as low as 243.15:1 despite the fact that an imaginary number was included, that the compulsory protection commitment ratio was only 22.05% based on the number of applications, that overseas institutions’ mandatory holding commitment rate is only 1.88%, and that the amount of available distribution was high at 41.47% can be seen as a reluctance to subscribe to Krafton.
In addition, it is analyzed that Krafton’s excessive dependence on Battlegrounds in its sales structure, and excessively hopeful valuation that ignores the characteristics of the game industry, also led to ignoring investment in Krafton. The final competition ratio of the final Krafton public offering stock general subscription was confirmed to be 7.79:1. By brokerage firm, Miraeasset Securities was 9.50:1, Samsung Securities 6.88:1, and NH Investment & Securities 6.72:1.
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Krafton was the last major IPO that allowed duplicate subscriptions, and the public offering alone amounted to 4.3098 trillion won, but the subscription margin was only about 5.358 billion won.
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Krafton’s situation is virtually ‘worst’. This is clear when compared to the Wantedlab conducted on the same day(from 2nd to 3rd). The size of Wantedlab’s public offering is about 25.6 billion won(25.55 billion won), which is only about 1/169 of Krafton. Nevertheless, the subscription competition ratio was 1731.23:1, which overshadowed Krafton’s competition ratio, and the margin for subscription was 5.5291 trillion won, which was higher than Krafton’s(5.358 trillion won).
Although duplicate subscriptions were possible, the margin amount was significantly lower than that of other large-scale public offering stocks. Previously, the margin amount of SK IE Technology was 80.9 trillion won, SK Bioscience 63.6 trillion won, and Kakao Bank, which was blocked from overlapping subscriptions, 58.3 trillion won.
With this, Krafton, which has completed the general subscription, will be listed on the stock market on the 10th.
Although duplicate subscriptions were possible, the margin amount was significantly lower than that of other large-scale public offering stocks. Previously, the margin amount of SK IE Technology was 80.9 trillion won, SK Bioscience 63.6 trillion won, and Kakao Bank, which was blocked from overlapping subscriptions, 58.3 trillion won.
With this, Krafton, which has completed the general subscription, will be listed on the stock market on the 10th.
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