IPO, Hanwa Investment is a lead underwriter, is under-subscribed. The investment firm may have to purchase unsold shares in offering.
Hanwha Securities, took on a large number of forfeited shares due to a competition rate of less than 1:1 in the general subscription.
According to the investment banking (IB) industry on the 15th, Hanwha Securities acquired 243,985 shares of TEMC at the public offering price (28,000 won). This is the amount of subscription that TEMC bought as it was sluggish with a competition ratio of 0.81 to 1 in general subscriptions from the 10th to the 11th.
Hanwha Securities invested 6.8 billion won in the mandatory acquisition of forfeited shares and invested 8.8 billion won with a 3% stake in TEMC, considering 83,332 shares (24,000 won per share) in May last year.
An official at Hanwha Securities explained, "We have acquired the total amount (of disqualified shares), but if stock market conditions change in a favorable manner, TEMC's stock price is likely to rebound sufficiently." The forfeited shares acquired by Hanwha Investment & Securities are 2.3% of TEMC's stake, with a one-month protection deposit period.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
