Myung In Pharm, a traditional pharmaceutical company with 40 years of history, is set to challenge for listing on the KOSPI and will conduct demand forecasting for institutional investors this week (Sept. 7-13). S2W is preparing for public subscription.
According to the financial investment industry on the 7th, Myung In Pharm will conduct demand forecasting for institutional investors from the 9th to the 15th over five trading days. They plan to finalize the offering price and conduct public subscription starting on the 18th.
Myung In Pharm submitted a securities registration statement to the Financial Services Commission last month, officially starting the KOSPI listing process. The company intends to raise all 3.4 million shares as new shares, with KB Securities serving as the lead underwriter.
Established in 1985, Myung In Pharm is the leading pharmaceutical company in the central nervous system (CNS) specialty medication market, known for its schizophrenia and depression treatments. It is also famous as the manufacturer of the oral nutritional supplement 'Egatane.'
The hoped-for public offering price range is 45,000 to 58,000 won, with the total public offering amount expected to be between 153 billion and 197.2 billion won. The expected market capitalization after listing is estimated to range from 657 billion to 846.8 billion won.
Additionally, data security company S2W is set to complete demand forecasting for institutional investors on the 8th and conduct public subscription for individual investors from the 10th to the 11th.
Last month, S2W recorded a hit in demand forecasting for institutional investors, confirming the offering price at the upper end of the hoped-for price range; however, the listing process faced a delay due to an omission in the conversion to electronic securities.
A source in the securities industry said, 'Both Myung In Pharm and S2W are subject to a new demand forecasting system that strengthens the mandatory holding period for institutional investors.' He noted that there is interest in whether the upper end of the offering price will continue to be confirmed.
Meanwhile, the new demand forecasting system prioritizes allocating over 40% of the institutional allocation volume to institutions that promise to hold the shares for at least 15 days after the listing (this will be eased to 30% until the end of the year).
This change follows concerns over institutions excessively selling newly issued shares on the listing day to take profits, causing bubbles in the offering price and distorting the market, and it was implemented in July.