This article appeared in Signal, a capital markets compass, at 5:58 p.m. on Aug. 4, 2026.
Dealicious, a fashion platform company, has completed its subscription process for retail investors. The final subscription ratio came in at 10.29-to-1, the lowest among companies newly listed on the KOSDAQ this year after Ingenia Therapeutics (3.09-to-1). Although the company had earlier set its offering price at 7,000 won, the top of the band, in the institutional book-building process, the result is attributed to the fact that lockup commitment orders fell short of 1% of the total.
According to the investment banking (IB) industry on the 4th, Dealicious wrapped up its subscription process for retail investors from the 3rd to the 4th of this month. The volume allocated to retail investors was 550,000 shares, and a total of 5,660,600 shares were received over the two days. The final subscription ratio (10.29-to-1) closed at a relatively low level. While other public offerings saw retail subscription ratios hovering in the four digits throughout July, investment demand declined starting with Ingenia Therapeutics (3.09-to-1), which ended its retail subscription on the 31st of last month.
As institutional investors' lockup commitment ratio fell below 1%, retail sentiment is also seen to have contracted. Dealicious, which conducted institutional book-building from the 23rd to the 29th of last month, set its offering price at the top of the desired band (5,000-7,000 won). However, only 0.1% (308,000 shares) of the volume received during book-building committed to not selling shares for at least 15 days after listing. This was the lowest figure among companies newly listed on the KOSDAQ this year.
Meanwhile, Dealicious is scheduled to be listed on the KOSDAQ market on the 12th following payment on the 6th of this month. Based on the confirmed offering price, its market capitalization is estimated at 153.2 billion won. Jung Chang-han, CEO of Dealicious, said, "I sincerely thank all the investors who participated in the subscription," adding, "After our KOSDAQ listing, we will repay you with tangible results through the advancement of our platform revenue model and business expansion."
