Neo-Imuntech announced on the 26th that it has confirmed the public offering price at 7500 won as a result of conducting demand forecasting for institutional investors. This amount exceeds the proposed public offering price of 5400~6400 won. Accordingly, Neo-Imuntech will raise 112.5 billion won through listing.
Hana Financial Investment and Mirae Asset Daewoo, the listing organizers(9,340 -3.71%)According to the demand forecast, the competition rate was 1374:1. It is explained that all participating institutions have offered a price above the top of the request for an offer.
Yang Se-hwan, CEO of Neoimmuntech, said, “Most institutions have offered a price higher than the final public offering price.” He then emphasized that “even after listing, we will strengthen candidate materials for new drug development and maximize shareholder value through active corporate explanations (IR).”
The total number of publicly offered shares of Neoimmuntech is 15 million DR (securities depository), which is 100% new stocks. The company plans to use the public offering for research and development, operating funds, and facility funds.
The general investor subscription is held for two days on the 4th and 5th of next month for 3.75 million DR, which is 25% of the total volume. It is expected to be listed on the KOSDAQ market in the middle of next month. The listed market capitalization based on the offering price is about 738.5 billion won.
Founded in 2014, Neo-Imuntech is a biotechnology company that researches and develops new T-cell-centered immune anticancer drugs. Its headquarters are in Maryland, eastern United States. The main candidate is the new immuno-anti-cancer drug’NT-I7′, a next-generation anti-cancer drug that induces the amplification of T cells, a type of immune cells (lymphocytes) in the body.
Neo-Imuntech plans to leap forward as a leading company in the market for immuno-cancer drugs by developing NT-I7 as an innovative new drug (First-in-Class).
Reporter Minsoo Han [email protected]
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