A.U. Brands announces its IPO price while planning to leverage funds for international growth in the fashion industry.
A.U. Brands, the operator of the all-season fashion label Rockfish Weatherwear, has announced that the final public offering price for its listing will be set at 16,000 won, reaching the upper limit of its offering range, which was established at between 14,000 won and 16,000 won. This decision follows a successful demand forecasting period that took place from October 13 to October 19, during which 2,085 domestic and international institutional investors participated. The response led to a remarkable competition ratio of 816.22 to 1.
The company is set to offer shares valued at 32 billion won, predicting a market capitalization of approximately 226.6 billion won upon its initial public offering. Notably, 88% of the participating institutions, including those that did not specify a price, presented bids above the 16,000 won mark.
Founded in 2022, A.U. Brands has recently intensified its focus on becoming an international player in the fashion industry, particularly following its acquisition of the UK-based company Zennar Ltd. in January 2024. The firm aims to channel the funds raised from its upcoming listing into accelerating its global market expansion. This entails establishing physical stores in key Asian markets, particularly Japan and China, while also seeking to diversify its brand portfolio by acquiring new heritage brands.
Kim Ji-hoon, CEO of A.U. Brands, expressed gratitude towards the institutional investors for their confidence in the company’s potential for brand revitalization and future growth on an international scale. He highlighted the significance of the upcoming KOSDAQ listing, stating, “With this KOSDAQ listing, we will intensify our global market entry and aim to become a leading global brand house in K-fashion.”
The company’s general subscription is scheduled for October 25 and 26, with its shares expected to be listed on the KOSDAQ market on November 3, under the guidance of listing underwriter Korea Investment & Securities.
Source: Noah Wire Services
