HL Genomics will list on South Korea's KOSDAQ market on July 24 with an offering price of 21,500 won, while two other companies prepare for institutional demand forecasting during the week of July 20-24. The API pharmaceutical company recorded 19 consecutive years of profitability and attracted 2,148 institutions in its demand forecasting with a 714.52:1 competition ratio. Korean IPO market activity continues as Ingenia Therapeutics and Delicious advance their listing preparations on KOSDAQ.
HL Genomics Lists on KOSDAQ with 21,500 Won Offering Price
HL Genomics, established in 2000, specializes in high-value-added active pharmaceutical ingredients (API) for chronic disease treatments including cardiovascular, allergy, diabetes, obesity, and neuropsychiatric medications. The company secured Hanrim Pharmaceutical as its parent company and stable internal customer base while expanding external sales to achieve 19 consecutive years of profitability.
Revenue reached 28.9 billion won in the previous year, increasing 2.5% from the prior year, while operating profit grew 3.3% to 9.3 billion won. The company's average operating profit margin over the recent three years stands at 32.3%.
Institutional demand forecasting attracted 2,148 institutions with a competition ratio of 714.52:1. The offering price was set at 21,500 won, the upper end of the hoped-for range of 18,500-21,500 won. General investor subscriptions held on July 13-14 collected approximately 4.6 trillion won in subscription deposits with a competition ratio of 667.23:1.
The public offering amount totals approximately 55.1 billion won, with an expected market capitalization of approximately 167.3 billion won based on the offering price. KB Securities serves as the lead underwriter. Korea Investment & Securities identified HL Genomics as a notable stock in the July IPO market.
Ingenia Therapeutics Conducts Institutional Demand Forecasting
US biotech company Ingenia Therapeutics will conduct institutional demand forecasting from July 20-24. The company develops treatments for eye and kidney diseases based on technology that protects and restores microvascular systems.
The lead pipeline 'MK-8748' is an ophthalmic new drug candidate that US pharmaceutical company Merck (MSD) acquired through its 2024 acquisition of UK biotech company Eyebio. Global Phase 2b/3 clinical trials are currently underway.
The company plans to list on the Korean stock market in the form of depositary receipts (DR) totaling 5 million shares. General investor subscriptions were changed from the original July 23-24 to July 30-31. The hoped-for offering price range is 12,000-14,500 won, with a planned offering amount of 60-72.5 billion won and expected market capitalization of 593.3-717 billion won based on the offering price. Samsung Securities serves as the lead underwriter.
Delicious Schedules IPO Demand Forecasting
Delicious, which operates the K-fashion B2B platform 'Sinsang Market', will begin demand forecasting from July 23-29. The company will offer a total of 2.2 million shares with a hoped-for offering price of 5,000-7,000 won and a planned offering amount of 11-15.4 billion won. General subscriptions are scheduled for August 3-4. Korea Investment & Securities serves as the lead underwriter.
FAQ
What is HL Genomics' offering price for its KOSDAQ listing?
HL Genomics set its offering price at 21,500 won, which is the upper end of the hoped-for range of 18,500-21,500 won. The company will list on KOSDAQ on July 24.
When will Ingenia Therapeutics conduct its institutional demand forecasting?
Ingenia Therapeutics will conduct institutional demand forecasting from July 20-24, with general investor subscriptions scheduled for July 30-31.
