Remedi, a portable X-ray imaging device manufacturer, lists on the KOSDAQ market on July 13 following two previous unsuccessful listing attempts, with HLGenomics conducting public subscription July 13-14 during the same week. Remedi's public subscription held July 1-2 recorded a competition ratio of 1,706.71:1, with the final offering price set at 20,700 won, the top of the proposed range. The Korean IPO market sees increased activity as companies secure funding for business expansion and technology development.
Remedi Completes KOSDAQ Listing After Two Failed Attempts
Remedi develops and produces portable X-ray imaging devices based on proprietary technology for low-dose, high-resolution X-ray imaging. The company received investments from LG Electronics and NASDAQ-listed Nano-X through a paid-in capital increase in 2022. LG Electronics participated as a strategic investor and holds approximately 3.85% of Remedi's shares on a post-offering basis.
Remedi first filed for preliminary listing review in May 2022 before withdrawing the application. The company attempted a technology-special listing in 2024 but failed to meet listing requirements. The lead underwriter changed across attempts: Mirae Asset Securities led the first attempt, KB Securities and Shinhan Investment Securities co-managed the second, and KB Securities served as sole lead underwriter for the successful third attempt.
HLGenomics Conducts Public Subscription July 13-14
HLGenomics, a subsidiary of Hanrim Pharmaceutical, conducts public subscription July 13-14. The company manufactures active pharmaceutical ingredients (API), core raw materials for finished pharmaceutical products. Revenue reached 28.877 billion won with operating profit of 9.328 billion won in the previous year, representing increases of 2.1% and 4.5% respectively. Both revenue and operating profit showed growth over the past three years.
Institutional demand forecasting conducted July 2-8 drew participation from 2,148 institutions, recording a competition ratio of 714.5:1. The final offering price was set at 21,500 won, the top of the proposed range. Total public offering consists of 2.565 million shares: 1.71 million new shares and 855,000 existing shares sold by parent company Hanrim Pharmaceutical, representing 33.3% of the total offering. KB Securities serves as lead underwriter and IBK Investment & Securities as co-underwriter. The company schedules KOSDAQ listing for July 24.
HLGenomics Plans Factory Expansion with IPO Proceeds
HLGenomics plans to invest 100% of funds secured through listing into expanding its second factory in Yongin. The expansion aims to improve supply stability for existing API business and expand new businesses including contract manufacturing (CM), contract development and manufacturing organization (CDMO), and vaccine microneedle business.
FAQ
What is Remedi's offering price for the KOSDAQ listing?
Remedi's final offering price was set at 20,700 won, the top of the proposed range of 17,800-20,700 won.
When does HLGenomics conduct public subscription?
HLGenomics conducts public subscription for general investors on July 13-14, with KOSDAQ listing scheduled for July 24.
