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[Alpha Biz=(Chicago) Reporter Kim Jisun] Fadu, a fabless startup with a market capitalization of more than 1 trillion won this year, entered KOSDAQ on the 7th. But we closed the deal at a price below the public offering price.
On the KOSDAQ market, Fado closed at 27,600 won, down 10.97% from the initial public offering price (31,000 won). It plunged 19.35% in the market to 25,000 won, but partially made up for the decline.
Based on the closing price, the market capitalization is 1.3263 trillion won, ranking 44th in the KOSDAQ market. The market capitalization based on the public offering price was KRW 1.5 trillion. Fadu showed a low competition rate in institutional demand forecasting and subscription to general investors during the public offering. In last month's demand forecast, the company recorded a sluggish competition rate of 362.9 to 1 and 79.15 to 1 in general public subscription.
Although it has been considered a IPO big fish, the failure to succeed is attributed to the failure to quell concerns overhang (potential selling volume) raised from the initial stage of the listing.
On the day of Fadu's listing, the amount available for distribution reached 40% of the total number of shares.
Fadu showed confidence despite falling stock prices on the first day of the public offering.
In the previous demand forecast, overseas long-term funds, including the Abu Dhabi Investment Authority (ADIA), the global sovereign wealth fund of the United Arab Emirates (UAE), participated in the event, securing solid investor confidence.
Fadu is planning to speed up product diversification in the future. Ultimately, it plans to establish itself as a 'global data center comprehensive fabless'.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
