MNC Solution IPO Preview

• MNC Solution is getting ready to complete its IPO in KOSPI in December 2024. MNC Solution specializes in motion control components for the defense industry.

• Total offering amount ranges from 240 billion won to 280 billion won. At the high end of the IPO price range, the company's expected market cap is 882 billion won.

• The company generated operating profit of 16.9 billion won (up 100.9% YoY). It has one of the strongest sales and profit growth among recent IPOs in Korea.

MNC Solution is getting ready to complete its IPO in KOSPI in December 2024. MNC Solution specializes in motion control components for the defense industry.MNC Solution will raise 3 million shares (1.5 million new shares and 1.5 million old shares) in this IPO. The IPO price range is from 80,000 won to 93,300 won. The total offering amount ranges from 240 billion won to 280 billion won.

The company plans to use the funds raised this time for research and development (R&D), talent acquisition, and facility investment. At the high end of the IPO price range, the company's expected market cap is 882 billion won. The book building for the institutional investors lasts from 26 November to 2 December. KB Securities is the lead underwriter of this IPO.

Major Shareholders - In 2020, a consortium including Socius Private Equity and Well to Sea Investment acquired a 100% stake in Mottrol for approximately 453 billion won. The consortium including Socius Private Equity and Well to Sea Investment is selling 1.5 million shares (15.9% of total outstanding shares post offering) in this IPO. Post IPO, the consortium including Socius Private Equity and Well to Sea Investment will retain an 84% stake in the company.