[Featured Stock] NeoImmuneTech Shows Upward Trend on First Day of Listing
[Asia Economy Reporter Minji Lee] NeoImmuneTech (Reg.S) is showing an upward trend on its first day of listing.
At 9:11 AM on the 16th, NeoImmuneTech recorded 15,400 KRW, up 2.67% from the opening price. The opening price was set at 15,000 KRW, double the public offering price of 7,500 KRW.
On the same day, the stock price rose as much as 16% intraday to 17,450 KRW but later fell to 14,500 KRW, a 3% decline.
NeoImmuneTech is a foreign special listing company headquartered in Maryland, USA, specializing in immuno-oncology drug research and development. Its main pipeline is the immuno-oncology drug 'NT-I7,' licensed from its largest shareholder, Genexine. This drug amplifies T cells responsible for cellular immunity.
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In the demand forecast, NeoImmuneTech recorded a competition rate of 1,374 to 1, confirming the public offering price at 7,500 KRW, exceeding the expected band of 5,600 to 6,400 KRW. In the general subscription, it recorded a competition rate of 664.65 to 1.
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