US biotech firm Ingenia Therapeutics is conducting retail investor subscriptions for its initial public offering on July 30-31, while automotive display specialist NeoView re-lists on the KOSDAQ market on July 27 following a spin-off, according to the Korean financial investment industry on July 25. Ingenia Therapeutics, which develops kidney disease treatments based on microvascular protection antibody technology, is pursuing a depositary receipt listing on the KOSDAQ. The week of July 27-31 marks active IPO market activity in South Korea, with multiple companies including satellite antenna manufacturer K&S Inc. and fashion B2B platform operator Delicious conducting institutional investor demand forecasting alongside Ingenia's retail subscription.
Ingenia Therapeutics Conducts Retail Subscription July 30-31
Ingenia Therapeutics is conducting retail investor subscriptions on July 30-31. The company develops treatments for kidney diseases based on antibody technology that protects and restores microvessels. Its lead pipeline candidate MK-8748 is an ophthalmic drug candidate secured by global pharmaceutical company Merck (MSD) through its acquisition of EyeBio. The candidate is currently undergoing global Phase 2b/3 clinical trials targeting wet age-related macular degeneration.
As of the end of March, the company held cash and liquid financial assets totaling $5.88 million (approximately 8.6 billion won). With approximately 60 billion won to be raised through this public offering, available funds are expected to reach approximately 70 billion won. The company stated that even if technology transfer revenues are delayed beyond expectations, it can cover research and development and operating expenses for the next 2-3 years with existing cash and public offering funds alone, indicating no significant need for additional fundraising in the short term.
K&S Inc. and Delicious Launch Institutional Demand Forecasting
K&S Inc. is conducting institutional investor demand forecasting from July 27 to 31. Established in 2011, K&S Inc. develops and manufactures satellite communication antennas. The company has primarily produced small satellite communication antennas for civilian use and is expanding its business portfolio to defense products including submarine military antennas (M4M). Recently, the company has been building a track record in the military market by winning a contract for the Republic of Korea Navy's maritime operation satellite communication system construction project. The target offering price range is 9,000 to 11,000 won.
Delicious, the operator of K-fashion B2B platform 'Sinsan Market', is conducting institutional demand forecasting through July 29, which began on July 23. The target offering price range has been set at 5,000 to 7,000 won. Delicious plans to invest the public offering funds in expanding its global Software as a Service (SaaS) business and penetrating the Japanese market. Korea Investment & Securities serves as the lead underwriter.
Kido Industry will conduct institutional investor demand forecasting from July 31 to August 6. The company produces cold forging parts used in automobile bodies and batteries. The target offering price range is 24,800 to 28,400 won. The public offering funds will be invested in expanding production facilities and equipment. Mirae Asset Securities serves as the lead underwriter.
NeoView Re-Lists on KOSDAQ July 27 After Spin-Off
NeoView re-lists on the KOSDAQ market on July 27. NeoView is a company established through the spin-off of the automotive display business division of KOSDAQ-listed company Tobis. The Korea Exchange announced on July 23 that it approved NeoView's KOSDAQ re-listing. Accordingly, the surviving entity Tobis and the newly established entity NeoView, having completed the spin-off procedure, will begin trading on July 27 through amended listing and re-listing, respectively.
FAQ
What is Ingenia Therapeutics' IPO subscription schedule?
Ingenia Therapeutics is conducting retail investor subscriptions on July 30-31. The company is pursuing a depositary receipt listing on the KOSDAQ market.
When does NeoView re-list on the KOSDAQ?
NeoView re-lists on the KOSDAQ market on July 27 following the completion of its spin-off from Tobis. The Korea Exchange approved the re-listing on July 23.
