[This article was reported on 'Radar M', a paid media specializing in economic and capital markets, on July 14 (18:03)]
HL Genomics, a company specializing in the production of raw materials (API), announced that it had a competition ratio of 667.23 to 1 as a result of applying for public offering shares for general investors for two days from the 13th to the 14th.
The subscription was made through KB Securities, the chief organizer, and IBK Investment & Securities, the co-host. About 4.6 trillion won was collected for the subscription deposit.
A total of 427,858,080 shares were received for the recruitment of 641,250 general investors. The number of subscriptions was counted as 207,429. This is a provisional tally that does not take into account the number of overlapping subscription investors.
A total of 2,148 institutions participated in the company's demand forecast for institutional investors conducted on the 2nd and 8th, recording a competition ratio of 714.5 to 1.
The public offering price was confirmed at 21,500 won, the upper end of the desired range (18,500 won to 21,500 won). The company will be listed on the KOSDAQ market on the 24th after payment on the 16th.
It plans to use all of the funds secured by listing to build a second plant in Yongin. While increasing production efficiency and ability to respond to orders, it is planning to start the customized CMO and CDMO business in earnest based on small production facilities.
It is also planning to expand its partner-type business model that connects domestic and foreign finished drug companies with joint research and development of raw materials and finished drugs to production.
"With the listing, we will strengthen our production infrastructure and expand our business areas from raw materials to CMOs and CDMOs to become a partner API company that grows with domestic and foreign finished drug companies," said Kim Ho-jin, CEO of HL Genomics.
