On the 17th, the first day of listing on the KOSDAQ, Dong Kook Lifescience, a corporation specialized in contrast agents, showed strong performance in early trading.
As of 9:05 a.m. on the same day, Dong Kook Lifescience was trading at 13,900 won, an increase of 4,900 won (54.44%) compared to the offering price (9,000 won).
Dong Kook Lifescience recorded a competition rate of 117.8 to 1 in the demand forecast for institutional investors conducted from the 20th to the 24th of last month. A total of 705 domestic and foreign institutions participated. The offering price was determined at 9,000 won, below the lower end of the desired range (12,600 won–14,300 won).
In the public offering subscription for individual investors conducted from the 5th to the 6th of this month, the competition rate was 15.2 to 1. Subscription deposits amounted to 34 billion won.
Founded in May 2017, Dong Kook Lifescience is a corporation that holds the number one market share in the domestic contrast agent market. It supplies products to major medical institutions, including advanced and general hospitals, while also engaging in the distribution business of diagnostic equipment (MEMD) and contrast agents for computed tomography (CT) and magnetic resonance imaging (MRI).
The funds secured during this listing process will be used to accelerate the development of new contrast agents and prepare for regulatory approvals for global exports. About 12.3 billion won will be invested to expand facilities at the Ansung factory, which produces raw materials and finished pharmaceuticals for contrast agents, actively responding to domestic and international demand through a one-stop production line while maximizing production efficiency.