LB Investment draws record demand from individual investors
Seok-Cheol Choi
Mar 22, 2023 (Gmt+09:00)
LB Investment Inc., a venture capital firm associated with the LG founder's family, has achieved a remarkable competition rate of over 1,000 to 1 for its general subscription, after successful demand forecasting from institutional investors.
The two-day general subscription saw a final competition rate of 1,167 to 1, with a subscription margin of 3.43 trillion won ($2.6 billion), making it the highest competition rate among IPOs by venture capitalists since the introduction of the IPO demand forecasting scheme in South Korea.
LB Investment's success can be attributed to its lower-than-expected valuation, with the public offering price set at 5,100 won, the highest end of the expected price range (4,400-5,100 won). It is set to be listed on the Kosdaq market on March 29.