Kido Industries, a manufacturer of high-performance apparel, has launched its public subscription for general investors ahead of its KOSDAQ listing. The final offer price was set at 28,400 KRW, the top of the indicative range (24,800 KRW~28,400 KRW). The total number of shares offered is 1.7 million, and the total offering amount is approximately 48.3 billion KRW. The shares allocated to general investors account for 25% of the total offering, or 425,000 shares, and may be adjusted depending on subscription results.

Subscription to Take Place Over Two Days from the 11th to the 12th

The general subscription for Kido Industries will take place over two days from the 11th to the 12th. As of around 9 a.m. on the 11th, the equal allocation counts are 393 shares at Mirae Asset Securities and 281 shares at Samsung Securities. The subscription deposit rate is 50%, with Mirae Asset Securities serving as the lead underwriter and Samsung Securities as co-lead underwriter.

Earlier, during the institutional bookbuilding process, the company recorded a competition rate of 213.31 to 1, which led to the final offer price being set at the top of the indicative range. The market is closely watching the scale of capital inflow on the first day of the general subscription and the final competition rate as key points of interest.

Production Bases in Four Countries Including Vietnam and Bangladesh

Founded in 1980, Kido Industries is a specialized manufacturer of motorcycle and outdoor apparel, focusing primarily on its OEM business for global brands. Its main products are outdoor wear and motorcycle wear.

Its core competitiveness lies in its overseas production network. The company operates production subsidiaries in four countries—Vietnam, Bangladesh, Indonesia, and Myanmar—and has adopted a strategy of diversifying its production bases to reduce the risk of disruptions in specific regions and to secure cost competitiveness.

Another characteristic is its high proportion of exports. According to company data, exports account for approximately 67.8% of its revenue based on 2025 figures. The growth of the global outdoor and motorcycle apparel market and whether major overseas clients will expand their orders are cited as key variables for future performance.

Kido Industries plans to allocate a significant portion of the IPO proceeds to expanding its overseas production facilities and establishing smart factory and automation equipment. The company aims to lay the foundation for mid- to long-term growth by improving production efficiency and strengthening cost competitiveness.

Allocation, Payment, and Refunds on the 14th; KOSDAQ Listing on the 21st

The schedule is proceeding relatively quickly. The allocation announcement, payment, and refunds are scheduled for the 14th, with the KOSDAQ listing date set for the 21st.

In the IPO market, investors need to consider not only the institutional bookbuilding competition rate but also the final general subscription competition rate, the expected number of shares for equal allocation, and the tradable share volume immediately after listing. In particular, since the offer price was set at the top of the indicative range, how the market evaluates the company's corporate value after listing is a key variable for the stock price.

[Investment Caution] IPO investments carry the risk that the post-listing stock price may fall below the offer price, resulting in a loss of principal. Rather than making investment decisions based solely on the subscription competition rate or institutional bookbuilding results, investors should comprehensively review the company's performance, financial condition, basis for the offer price valuation, and post-listing tradable share volume.

*This article was written with AI assistance.*