이 기사는 2019년 12월 02일 08:00 thebell 에 표출된 기사입니다.

Market is paying attention to KB Securities, to see whether it will jump into the top three securities firms of the domestic equity capital market (ECM) this year.

KB Securities' ECM division is excited that the securities firm ranked number three in arranging domestic ECM deals as of the end of November. If Syntekabio and Bridge Biotherapeutics' initial public offering (IPO) go smoothly, KB Securities will grab the number three position.

KB Securities' ECM division ranked number three by managing a total of 410.6 billion won worth of ECM deals during the first 11 months of this year. This marks the highest record since KB Securities was established following a merger between KB Investment & Securities and Hyundai Securities in 2017.

"The major talking point in KB Securities' investment banking (IB) division now is whether [the brokerage] can be included in the top three in the ECM. With big deals scheduled for next month already notified, it is highly likely that the brokerage will retain the number three position," said an IB industry source.

ITM Semiconductor's listing played a pivotal role in KB Securities' performance. KB Securities' ECM division had struggled in arranging ECM deals in the first half of this year. This was due to the delay of blockbuster deals, including E-Land Retail's IPO. However, as ITM Semiconductor's listing hits the jackpot, the securities firm could jump into the leading group. ITM Semiconductor's IPO price was set at 26 thousand won per share, the top end of the price range.

So far, KB Securities has retained a firm hold on first place in domestic debt capital market (DCM). If the securities firm grabs the top spot this year, it will rank the top for the seventh straight year. This is why KB Securities has long hoped to strengthen its ECM division which has lagged behind relative to its DCM division.

Syntekabio and Bridge Biotherapeutics' planned IPO would seemingly be last factor that will determine the firm's final spot. KB Securities expects to bring in proceeds of 24 billion won and 14.7 billion won, respectively, from the two deals, based on the bottom end of the price range. The brokerage might fail to jump into the top three if the brokerage gets overtaken by rivals in the two biotech IPOs.

The biggest IPO next month will be ME2ZEN's 80 billion won worth listing, led by Mirae Asset Daewoo. The gap between KB Securities and Mirae Asset Daewoo is at a mere 79 billion won. If ME2ZEN's IPO hits the jackpot whereas Syntekabio and Bridge Biotherapeutics deals are scrapped, KB Securities may lose its position.

"KB Securities is making every effort to two biotech IPOs that will wrap up the year. The securities firm is double-checking unexpected factors that may arise and preparing to make the deal popular. Syntekabio and Bridge Biotherapeutics are likely to complete the deal because each company has distinct marketing points - bio artificial intelligence (AI) and the export of technology," explained a market watcher.

(By reporter Yang Jung-woo)