Corporate Logo(source: vect.co.kr)
VECT, a one-stop total visual solutions provider specializing in digital signage, reported an impressive subscription rate of 1,170.34:1 during its retail tranche IPO on December 4-5. This marks the highest subscription rate among IPOs conducted in November.
The general subscription offering accounted for 25% of the total IPO shares, with 1,187,500 shares made available to the public. Over the two-day subscription period, the company received 86,783 applications, amounting to 1.39 billion shares requested. Deposits for the subscriptions totaled approximately 2.71 trillion won.
The overall general competition ratio stood at 1,170.34:1, while the proportional allotment ratio was 2,339.69:1. Following the payment deadline on December 9, VECT is set to debut on the KOSDAQ market on December 16.
CEO Yoo Chang-soo expressed gratitude for investor confidence, stating, “Despite ongoing market volatility, we successfully concluded the general subscription thanks to investors who recognized our growth potential. With this momentum, we will strengthen our competitiveness in digital signage content and hardware as we take our first steps as a publicly listed company. Our goal is to become the global No. 1 one-stop content solutions provider."
During the institutional demand forecast, held from November 25 to 29, VECT priced its IPO shares at 3,900 won, the top end of its proposed price range(3,500–3,900 won). The IPO raised a total of 18.5 billion won, valuing the company at approximately 53.5 billion won post-listing. Shinhan Securities is the underwriter for the IPO.
VECT plans to invest the proceeds from the offering in research and development for digital signage content and AI-powered hardware enhancement. These efforts aim to expand its presence in the commercial and educational signage markets and accelerate its global expansion, starting with Asia and the Middle East.
Corporate Logo(source: vect.co.kr)
VECT, a one-stop total visual solutions provider specializing in digital signage, reported an impressive subscription rate of 1,170.34:1 during its retail tranche IPO on December 4-5. This marks the highest subscription rate among IPOs conducted in November.
The general subscription offering accounted for 25% of the total IPO shares, with 1,187,500 shares made available to the public. Over the two-day subscription period, the company received 86,783 applications, amounting to 1.39 billion shares requested. Deposits for the subscriptions totaled approximately 2.71 trillion won.
The overall general competition ratio stood at 1,170.34:1, while the proportional allotment ratio was 2,339.69:1. Following the payment deadline on December 9, VECT is set to debut on the KOSDAQ market on December 16.
CEO Yoo Chang-soo expressed gratitude for investor confidence, stating, “Despite ongoing market volatility, we successfully concluded the general subscription thanks to investors who recognized our growth potential. With this momentum, we will strengthen our competitiveness in digital signage content and hardware as we take our first steps as a publicly listed company. Our goal is to become the global No. 1 one-stop content solutions provider."
During the institutional demand forecast, held from November 25 to 29, VECT priced its IPO shares at 3,900 won, the top end of its proposed price range(3,500–3,900 won). The IPO raised a total of 18.5 billion won, valuing the company at approximately 53.5 billion won post-listing. Shinhan Securities is the underwriter for the IPO.
VECT plans to invest the proceeds from the offering in research and development for digital signage content and AI-powered hardware enhancement. These efforts aim to expand its presence in the commercial and educational signage markets and accelerate its global expansion, starting with Asia and the Middle East.