The pharmaceuticals development corporation G2GBIO announced on the 4th that it has set the public offering price at 58,000 won. This is at the upper end of the public offering price range of 48,000 won to 58,000 won.
G2GBIO conducted a demand forecast for domestic and international institutional investors over five business days from July 25 to 31. A total of 2,446 institutions participated, applying for 534,776,900 shares. The competition ratio was 810.6 to 1.
Based on the confirmed public offering price, G2GBIO's public offering amount is 52.2 billion won, and its market capitalization at listing is 311.2 billion won. 99.6% of the total requested volume (including 1.4% without a specified price) recorded prices above the upper limit of 58,000 won. 15.6% of the order volume set an obligation to hold.
G2GBIO is expected to be listed on the KOSDAQ market on the 14th through a technology special listing. The subscription for general investors is scheduled for the 5th to 6th. The underwriter is Mirae Asset Securities.
Founded in 2017, G2GBIO is a development corporation for sustained-release injectable drugs based on microspheres and possesses the proprietary drug delivery technology known as the 'InnoLamp' platform. 'InnoLamp' is designed to load drugs onto microspheres sized 10 to 100 micrometers (㎛), which gradually release the active substance as the microspheres disintegrate during subcutaneous or intramuscular injections.