What equal allocation is
In Korean IPOs at least half of the retail tranche is split equally among everyone who subscribes the minimum amount; the rest is allocated in proportion to deposits.
How it works
Equal-allocation shares = shares offered × retail ratio × equal-allocation ratio × this broker's share. Shares per person = equal-allocation shares ÷ number of subscribers.
Pro-rata allocation
Whatever is left after equal allocation is shared in proportion to order size. Brokers publish a pro-rata ratio (shares ordered ÷ shares allocated) after the book closes; shares received ≈ your order ÷ that ratio. Past ratios are on the IPO results page.
What to keep in mind
The retail ratio, broker quotas and minimum subscription are in the prospectus. Subscriber numbers are unknown until the book closes, so treat the result as an estimate.