Jeil Holdings, the company considered to be the largest KOSDAQ IPO deal of the year, will soon enter a process to list itself. The Harim Group holding company said that it would submit a securities registration statement with the Financial Services Commission on May 15 and make a public subscription announcement. For two days beginning on the 12th, it will hold a demand forecast with institutional investors and determine the final subscription price, followed by a public subscription with the general public on May 19-20.
The suggested subscription price ranged from 20,700 to 22,700 won, with the total number of shares on offer reaching 20,381,000 shares. Based on the upper-bound price, the total market value at IPO is 462.6 billion won. The estimated market capitalization after the IPO is 1.6 trillion won, ranking within the top-ten large caps.
Located in Iksan, North Jeolla Province, Jeil Holdings is the top-level holding company of Harim Group which is ranked 38th among large conglomerates as designated by the Fair Trade Commission.
Harim Group controls its affiliate companies through two holding companies including Jeil and Harim Holdings, an intermediate holding company. As for the end of last year, the number of affiliates of the group was 74. Harim Group's main businesses including animal feed, poultry and hog farming, and retailing related to agri- and fishery business. In 2015, the group acquired Pan Ocean to make an entry into the shipping industry.
Jeil Holdings' consolidated sales last year were 6,196.4 billion won, up 21.2 percent from the previous year. Its operating profit and net profit last year were 450.7 billion won and 371.7 billion won, respectively, up 28.4 percent and 113.2 percent from 2015. In the first quarter of this year, it posted an operating profit of 103.6 billion won on sales of 1,573.4 billion won.