S&SYS, a consolidated solution corporation for shipbuilding materials, announced on the 8th that it recorded a competition rate of 1,472 to 1 after conducting a public offering subscription for general investors over two days from the 7th to the 8th.

A total of 315,834 subscriptions were received, with the corresponding margin amounting to approximately 10.49 trillion won. Earlier, S&SYS had conducted a demand forecast from July 28 to August 1, with participation from nearly 2,336 domestic and overseas institutions, resulting in a competition rate of 739.2 to 1. As a result, it confirmed the offering price at the upper limit of the desired band (27,000 won to 30,000 won), which is 30,000 won.

A representative from Shinhan Investment Corp., which conducted the listing, noted, “Many people positively evaluated the growth potential secured through market expansion along with the supercycle in the shipbuilding industry and actively participated in the subscription.”

S&SYS plans to strengthen its existing business base by expanding production capacity (CAPA) and accelerating research and development (R&D) innovation as a result of going public, aiming to leap to a leading company in global energy power solutions through expansion into the high-end power equipment (data center, semiconductor, marine, wind power) market.

Additionally, by supplying its control system platform to the remodeling project (DDH-Ⅰ) and the new frigate (BATCH-Ⅳ) for the first time, it successfully localized the integrated control system for vessels and plans to provide integrated solutions for control and power systems in the defense industry, expanding its application to new vessel construction projects.
Source: CHOSUNBIZ