Ingenia Therapeutics Sets Final Offering Price at 12,000 Won, the Lower End of the Range

Market capitalization expected to reach 600 billion won after listing

"Aiming to become a global new drug development company"

Ingenia Therapeutics announced on the 28th that, based on the results of its demand forecast for institutional investors conducted from July 20 to 24, it has set the final offering price at 12,000 won, which is the lower end of the desired price band.

A total of 307 institutional investors, both domestic and overseas, participated in this demand forecast, resulting in a competition ratio of 50.4 to 1. Based on the final offering price, the total amount to be raised is approximately 60 billion won, and the market capitalization after listing is expected to be around 600 billion won.

Ingenia plans to hold the public subscription for retail investors on July 30 and 31, and aims to list on the KOSDAQ market next month.

The company stated that the funds raised through this public offering will be used for the clinical trials of its current pipeline and for research and development (R&D) of its subsequent pipeline candidates. Ingenia also plans to focus on enhancing its growth potential and shareholder value by expanding overseas partnerships.

Han Sangyeol, CEO of Ingenia, said, "With this listing, we will accelerate the development of new drugs that can transform the vascular disease treatment market and leap forward as a global company."

This content was produced with the assistance of AI translation services.