The stock price of Peptron, a KOSDAQ-listed company, is strong in the early trading hours on the 29th. This surge is believed to be due to the influx of buying interest following news of large-scale funding through the issuance of exchangeable bonds.
As of 9:26 a.m. on that day, Peptron is trading at 295,000 won, up 14,000 won (4.98%) from the previous trading day.
Peptron, a biotechnology company specializing in synthetic peptides, announced on the previous day that it had decided to issue exchangeable bonds worth 24.2 billion won after the regular trading session. The exchange price is set at 326,895 won per share, and allocations will be made to nine entities, including LS Securities with 5.7 billion won and Samsung Securities with 4 billion won.
Peptron stated that all funds raised through the issuance of exchangeable bonds will be used for investments in production facilities for sustained efficacy pharmaceuticals.
News of raising large investments by issuing exchangeable bonds at a price higher than the current share price seems to have stimulated investor sentiment. Eom Min-yong, a researcher at Shinhan Investment Corp., noted, "Peptron is preparing to enter the global loop-one competitive drug market, valued at $1 billion (approximately 1.3 trillion won)," adding that preparations for the construction of factories for loop-one and Lilly sample production are progressing well, and expectations for the main contract remain high.