Anticancer drug developer biotech Kanaph Therapeutics will begin bookbuilding for institutional investors this week (on the 19th-23rd). Deokyang Energen, which is pursuing the first KOSDAQ listing of the year, is set for retail subscription.
According to the securities industry on the 18th, Kanaph Therapeutics will conduct bookbuilding for institutional investors for five trading days starting on the 21st. It plans to set the offer price afterward and take retail subscriptions starting on the 18th.
Founded in Feb. 2019, Kanaph Therapeutics is developing innovative drugs using human genome-based drug development technology. Through the third quarter of last year, it posted 1.9 billion won in revenue and a 4.5 billion won operating loss.
The company, which is seeking a KOSDAQ listing via the technology exception program, plans to offer a total of 2 million shares. The indicative price range is 16,000 won-20,000 won, for an expected offering size of 32 billion-40 billion won. Korea Investment & Securities Co. is the lead manager.
In addition, industrial hydrogen supplier Deokyang Energen completed bookbuilding for institutional investors on the 16th and will take subscriptions from retail investors from the 20th to the 21st.
Established in 2020, Deokyang Energen is a hydrogen specialist that refines byproduct hydrogen generated from caustic soda manufacturing and petrochemical processes into "high-purity industrial hydrogen" using its own technology and supplies it.
It will offer a total of 7.5 million shares, with total proceeds of 63.75 billion-75 billion won. The funds raised through the listing will be used for building a Ulsan shipping center, expanding facilities, and new plant equipment.