Stock prices for GFC Life Science, a company specializing in plant cell-based bio materials, are strong in early trading on the 30th, the first day of its transfer listing on KOSDAQ.
As of 9:21 a.m. on that day, shares of GFC Life Science are trading at 22,200 won, an increase of 6,900 won (45.1%) compared to the offering price of 15,300 won. The stock price rose to 29,750 won in early trading.
GFC Life Science recorded a competition rate of 1,442.69 to 1 in the demand forecasting for institutional investors, which took place from the 10th to the 16th of this month. A total of 2,442 domestic and foreign institutions participated, and the offering price was set at the upper end of the hopeful range of 12,300 to 15,300 won.
In the public subscription for general investors, which took place from the 19th to the 20th of this month, the competition rate was 2,161 to 1. A total of 3.2 trillion won was raised as subscription deposits.
Founded in 2002, GFC Life Science is a plant cell-based bio material company. It develops cosmetic ingredients centered on skin microbiome and exosome technology, supplying them to domestic and foreign clients.
Last year, the company recorded sales of 1.68 billion won, a 9% increase compared to the previous year, while operating profit rose by 142% to 170 million won. The net loss for the period is 590 million won.
The company plans to use the funds secured from this listing for facility funding and debt repayment.