ADM Korea Co., Ltd. Passes KOSDAQ Listing Review

[Asia Economy Reporter Junho Hwang] ADM Korea Co., Ltd., a clinical CRO company, passed the listing review at the Korea Exchange on the 9th. If the listing proceeds as scheduled in June, it is expected to be the first listing case among domestic clinical CROs related to new drug development.

ADM Korea has been undergoing the KOSDAQ listing review at the Korea Exchange since November 26 last year. Hana Financial Investment served as the lead manager for the listing. Major institutional investors include Company K Partners and Industrial Bank of Korea.

ADM Korea stated that although DreamCIS, a clinical CRO company, was the first to successfully list on KOSDAQ in May last year, considering that the major shareholder of that company is the Chinese CRO company TigerMed, ADM Korea's listing can be regarded as the first listing of a domestic clinical CRO company.

ADM Korea introduced itself as "a company promoting business in new drug clinical trials closely related to new drug launches, especially specialized in global clinical trials." ADM Korea became a subsidiary after Mobis acquired a 43.87% stake in January 2019.

The company further explained, "Clinical trials accounted for about 80% of ADM Korea's total sales last year," and added, "We plan to successfully proceed with global business expansion and license-out of new drugs under development."

ADM Korea expects to complete the listing around June through investor relations (IR) and the public offering process.

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