The gastrointestinal endoscopy device specialist FineMedix has set its public offering price at 10,000 won.
On the 13th, FineMedix announced that it confirmed the public offering price at 10,000 won, the upper end of the desired price range (9,000-10,000 won), following the institutional investor demand forecasting period conducted from the 5th to the 11th.
According to the lead manager Korea Investment & Securities, about 2,033 institutions participated. A total of 99.26% of these institutions offered prices above the upper end of the desired price range of 10,000 won, resulting in a competition rate of 1,260.25 to 1.
FineMedix is a specialized manufacturer of gastrointestinal endoscopy devices established in 2009 by a practicing gastroenterologist.
Recent analysis indicates that the small scale of the public offering has contributed to the revival of investor sentiment toward biotech stocks and the subsequent popularity. FineMedix's planned public offering amount is 9 billion won.
The estimated market capitalization post-listing is 56.3 billion won. The number of shares available for circulation on the listing date is 167,833 shares, accounting for approximately 28.58% of the total issued shares.
Meanwhile, FineMedix plans to conduct a subscription for public shares for general investors on the 16th and 17th. The expected listing date on the KOSDAQ market is set for the 26th of this month.