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JUSTECH, a company specializing in ultra-precision motion control, secured solid investment demand in its retail subscription, following its institutional book-building. Analysts attribute the strong investor response to the connection between the company's core technology and growth industries such as semiconductors and aerospace.
According to the investment banking (IB) industry on the 19th, JUSTECH conducted its public offering subscription for retail investors over two business days starting on the 18th of this month. The simple subscription rate stood at 2,783.89 to 1, with a total of 402,395 subscriptions received. This was the third-highest competition rate among companies listed on the Kosdaq this year, after POLED and MakinaRocks. The margin deposit totaled approximately 6.9597 trillion won.
JUSTECH also recorded near-blockbuster results in its institutional book-building. In the demand forecast conducted from the 8th to the 12th of this month, 2,252 domestic and foreign institutional investors participated, resulting in a competition rate of 1,295 to 1. As a result, the offering price was set at the top of the proposed band (10,500–12,500 won), and the company is set to list on the Kosdaq market with a recognized market capitalization of about 150.6 billion won.
Analysts say solid investor sentiment was drawn by the prominent connection between JUSTECH's ultra-precision motion control technology and the semiconductor and aerospace industries. Indeed, JUSTECH announced plans to focus the offering proceeds (20 billion won) to be secured through the listing on developing motion systems for semiconductors and equipment for space applications.
Choi Dong-su, CEO of JUSTECH, said, "I sincerely thank the investors who highly valued our efforts to expand the share of semiconductor revenue through ultra-precision motion control technology secured by our own technological capabilities, and our focus on the aerospace sector as a next-generation growth engine."
JUSTECH plans to list on the Kosdaq market on June 29, following payment on the 23rd of this month. Samsung Securities is solely handling JUSTECH's listing underwriting.
