HLGnomics Debuts on KOSDAQ After Drawing 4.6 Trillion Won in Subscription Deposits

Active pharmaceutical ingredient (API) specialist HLGnomics will debut on the KOSDAQ market this week in the initial public offering (IPO) market.

According to the financial investment industry on the 19th, HLGnomics will make its new listing on the KOSDAQ market on the 24th of this month. The offering price was set at 21,500 won, the top of the indicative price range of 18,500 to 21,500 won. On the first day of trading, the stock may trade between 12,900 won and 86,000 won, or 60 to 400 percent of the offering price.

HLGnomics succeeded in attracting strong demand in both its institutional book-building and retail subscription. In the demand forecast targeting institutional investors, 2,148 institutions participated, recording a competition ratio of 714.52 to 1. In the retail subscription conducted on the 13th and 14th of this month, the competition ratio reached 667.23 to 1, drawing approximately 4.6 trillion won in subscription deposits.

Founded in 2000, HLGnomics produces high-value-added active pharmaceutical ingredients (API) used in treatments for chronic diseases such as cardiovascular conditions, allergies, diabetes and obesity, and neuropsychiatric disorders. Hanlim Pharm holds a 100 percent stake in the company, and HLGnomics becomes the first Hanlim Pharm affiliate to list on the stock market. With its parent company Hanlim Pharm secured as a stable customer, the company has expanded external sales based on long-term clients, sustaining profits for 19 consecutive years.

Last year, revenue rose 2.5 percent from the previous year to 28.9 billion won, while operating profit increased 3.3 percent to 9.3 billion won. Its average operating profit margin over the past three years was 32.3 percent. The offering amount is approximately 55.1 billion won, and the expected market capitalization based on the offering price is approximately 167.3 billion won.

On the 20th, Hansol Technics will conduct a subscription for existing shareholders, and on the 21st, Daedong Gear will hold a retail subscription. Hanwha Solution's existing shareholder subscription is scheduled for the 22nd and 23rd.