Investors submitted a record-breaking 30.06 trillion won ($27.31 billion) in deposits during a two-day pre-order session that closed Thursday for stocks of Cheil Industries Inc., the de facto holding firm of Samsung Group that goes public next week.
Cheil Industries, which filed for listing on the Seoul main bourse in September, plans to offer 28.75 million of its shares to be traded on the stock market with an initial public offering price of 53,000 won each, giving it 1.52 trillion won, the third-largest IPO ever in the country.
The deposit figure for Cheil Industries is a record-breaker in the local stock market, having surpassed the previous 19.84 trillion won for Samsung Life Insurance Co. in 2010. It easily passed that for Samsung SDS Co., another Samsung affiliate, which drew in 15.55 trillion won in November.
Stock orders were 194.9 times oversubscribed, as investors submitted some 1.12 billion orders for the 5.75 million shares available for subscription. The stocks for offer represent 20 percent of the shares to be listed, according to head bookrunner Daewoo Securities Co. (Yonhap)
