The biotechnology company IntoCell, which is pursuing a listing on the KOSDAQ, has also succeeded in attracting attention in the public offering subscription.
According to the financial investment industry on the 14th, IntoCell recorded a competition rate of 2,268.87 to 1 in the public offering subscription held from the 13th to this day. The subscription deposit was estimated at 7.23 trillion won.
Earlier, IntoCell also attracted attention in the demand forecasting for institutional investors from the 29th of last month to the 8th of this month. 99.4% of participating institutions offered prices above the upper range of the desired public offering price.
IntoCell was founded by CEO Park Tae-kyo, who is a co-founder of LigaChem Biosciences, and is a research and development company specializing in antibody-drug conjugates (ADCs) that has received attention since the early stages of its public offering efforts.
The company exported its technology to ADC Therapeutics and also signed a joint research contract for new drug candidates with Samsung Bioepis. Last year's revenue was 3 billion won, with a net loss of 9.9 billion won.
Meanwhile, IntoCell plans to be listed on the KOSDAQ on the 23rd after closing the subscription on this day. The lead underwriter is Mirae Asset Securities.