Stonebridge Ventures confirms public offering price at 8,000 won... 25% reduction in existing share sales

원본보기 아이콘

[Asia Economy Reporter Park Jihwan] Stonebridge Ventures announced on the 14th that it has finalized the public offering price at 8,000 KRW, reflecting the results of demand forecasting from institutional investors. Considering the unstable market conditions, the volume of existing shares for sale was also reduced by 25%.

The newly decided public offering price of 8,000 KRW is below the initially proposed desired range of 9,000 KRW to 10,500 KRW.

A total of 274 domestic and international institutions participated in the demand forecast, recording a competition rate of 20 to 1.

The scale of existing share sales was also reduced by 25%. The volume of existing shares for sale was cut from 1.8 million shares to 1.35 million shares.

As a result, the number of shares offered decreased from 4.5 million to 4.05 million. The total offering amount is approximately 32.4 billion KRW.

A Stonebridge Ventures official stated, "Although there are some regrets due to the recent unstable market situation, we humbly accept the market's decision to reduce the offering size and lower the offering price. We will strive to have the company's value properly evaluated in the market after listing based on fundamentals, portfolio, and future performance."

Stonebridge Ventures plans to use the funds raised from this offering for fund investments. General subscription will be held from the 15th to the 16th, and the company will be listed on the KOSDAQ market on the 25th. KB Securities and Samsung Securities jointly serve as the lead underwriters.

Meanwhile, Stonebridge Ventures was established in 2017 when the venture capital business division of Stonebridge Capital (currently FV Holdings) was spun off. The cumulative scale of managed funds has reached 1.1139 trillion KRW to date.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.