SCM Life Sciences Confirms Public Offering Price at 17,000 Won... Plans to Raise 30.6 Billion Won

[Asia Economy Reporter Kum Bo-ryeong] SCM Lifescience's public offering price has been set at the upper end of the band, 17,000 KRW.

SCM Lifescience, a bio company specializing in cell therapy development, announced on the 5th that the public offering price was decided at 17,000 KRW following demand forecasting conducted for institutional investors on the 2nd and 3rd. The initial desired price range was 14,000 to 17,000 KRW.

According to Korea Investment & Securities, which is managing SCM Lifescience's listing, demand forecasting was conducted for 1.44 million shares, which is 80% of the total offering volume. A total of 1,235 domestic and international institutions participated, resulting in a competition rate of 1,032.17 to 1.

The total number of shares offered is 1.8 million, all newly issued shares. Through this offering, a total of 30.6 billion KRW is expected to be raised. The funds will be used for domestic and international clinical trials, introduction of new technologies and investment in overseas affiliates, investment in GMP facilities and expansion of production facilities, and global market expansion.

Subscription for general investors will be conducted on the 8th and 9th for 360,000 shares, which is 20% of the total offering volume. The scheduled listing date is the 17th.

Lee Byung-geon, CEO of SCM Lifescience, said, "We will focus on maximizing corporate value through innovative new drug R&D and successful commercialization, and enhancing shareholder value through active IR and shareholder-friendly policies."

This content was produced with the assistance of AI translation services.