INNOSPACE’s offer price set at 43,300 won

[Courtesy of INNOSPACE]

INNOSPACE Company, a South Korean startup specializing in space launch vehicles, announced on Wednesday that it has set its offer price at the upper end of its desired range, or 43,300 won ($31.5) per share, following strong demand from Korean and international institutional investors.

The company conducted a book-building process over five trading days from June 11th to June 17th, 2024. A total of 2,159 institutions participated, resulting in a competitive subscription rate of 598.87 to 1. Notably, 99.6 percent of the participating institutions submitted bids at or above the final IPO price of 43,300 won.

The IPO is expected to raise 57.6 billion won in total, which would bring the company’s market capitalization to around 406.2 billion won.

INNOSPACE will open its public subscription from June 20th to June 21st and plans to list on the Kosdaq market in early July.