In the first half of this year, the IPO market has been dominated by small and mid-cap stocks while the big fish have been missing.
The KRX Post IPO Index, which only includes newly listed stocks, surged 50%.
The second half of the year will see the return of the market’s favorite small- and mid-cap IPOs.
By Jo Yeon.
Seoul Guarantee Insurance will begin the process of going public.
The Public Funds Management Committee under the Financial Services Commission has confirmed that it will submit a preliminary examination bill for Seoul Guaranty Insurance’s listing on the KOSPI next month.
This is somewhat later than the original plan to launch the IPO in the first half of the year, but it is expected that the public offering process could begin as early as August or September and the IPO could take place in October.
Seoul Guarantee has net assets of 5 trillion won. Based on the average price-to-earnings ratio (PBR) of domestic non-life insurers, Seoul Guarantee’s enterprise value is estimated to be around 2 to 3 trillion won.
Although the company suffered a valuation loss of 800 billion won last year due to steep interest rate hikes, its premiums have expanded by 37 percent in two years, reaching nearly 5 trillion won last year, drawing attention from the market.
Doosan Robotics is also expected to file for a preliminary listing on the stock market in mid-June.
Doosan Robotics had sales of 10.6 billion won in the first quarter and 45 billion won last year, making it the largest in the robotics industry스포츠토토.
Compared to its peer Rainbow Robotics, it is about three times as much, but Rainbow Robotics’ stock price has been rising since the beginning of the year, and its market capitalization is approaching 2 trillion won, raising expectations for Doosan Robotics’ ransom.
In addition, semiconductor fabless companies Padou and Eco-Properties filed for preliminary examination in March and April, respectively, and are awaiting approval from the exchange, so the public offering process is expected to begin as early as July.
However, in the case of EcoproMaterials, it is unclear whether the company will actually succeed in its IPO due to the recent detention of its former chairman Lee Dong-chae.
In addition, LG CNS, SK Ecoplant, and CJ Olive Young, which have been preparing to go public early, are expected to apply for preliminary listing review in the second half of this year.
The IPO market was cooled by a series of withdrawals at the beginning of the year. It will be interesting to see if the appearance of large-cap stocks will inject new investment vigor into the stock market.