SEOUL, Sept. 8 (Korea Bizwire) — On Thursday, Kasa, a real estate securities trading platform, announced that the subscription rate for its seventh public offering building, ‘Apgujeong Commerce Building,’ exceeded 56 percent on the first day of the public offering.
On Wednesday, the initial day of the public offering, the company raised 9.4 billion won (US$7.04 million) out of a total of 16.7 billion won, with the subscription rate estimated at 56 percent.
This public offering will run until Friday on a first-come, first-served basis. Participation in Kasa’s public offering is available only through Daishin Securities accounts.
Investors can participate in denominations of 5,000 won (US$3.75). The Apgujeong Commerce Building is located in the central commercial district of Apgujeong Rodeo Street.
The public offering is currently underway at a significantly lower price than the appraised valuation.
Prior to this public offering, Kasa successfully sold two other public offering buildings.
Kasa issues digital asset-backed securities, each priced at 5,000 won.
Owners of these securities can receive dividends based on rental income every three months and can also benefit from sales proceeds once the building is sold.
M. H. Lee (mhlee@koreabizwire.com)
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