BioPlus, IPO Price Set at 31,500 KRW

[Asia Economy Reporter Hyungsoo Park] BioPlus, which is pursuing a listing on the KOSDAQ market, has set its public offering price at 31,500 KRW.

BioPlus announced on the 12th that it conducted a demand forecast for institutional investors on the 8th and 9th and finalized the public offering price at 31,500 KRW, the upper limit of the desired price range.

According to Kiwoom Securities, the lead manager of BioPlus's listing, a total of 1,374 domestic and international institutions participated in the demand forecast, recording a competition rate of 1,220.15 to 1. Among the participating institutions, 99.7% offered prices at or above the upper limit of the public offering price band. The proportion offering 35,000 KRW or more reached 77.5%.

Jung Hyung-gyu, CEO of BioPlus, said, "We will maximize corporate value and shareholder value by discovering future growth engines and creating new growth drivers based on the world's only source technology, the MDM Tech platform technology, and next-generation bio products."

The total number of shares offered by BioPlus is 1.4 million. It plans to raise 44.1 billion KRW through the public offering. The raised funds will be used for new product research and development, facility investment, and operating funds. In particular, investments will be expanded in ▲ research and development and clinical trials of biobreast, bio-cartilage substitutes, next-generation botulinum toxin, ▲ production facility expansion, and ▲ sales and marketing to expand domestic and overseas markets.

Subscription for general investors will be conducted over two days from the 13th to the 14th. The company is scheduled to be listed at the end of this month, with an expected market capitalization of approximately 438.3 billion KRW based on the public offering price after listing.

BioPlus is a specialized company in medical devices and bio products based on polymer biomaterials, established in 2003. Its core competitiveness lies in the independently developed platform patent technology, MDM Tech. Based on this, it has maximized the functions and quality of biomaterial application products, including viscoelasticity, safety, durability, molding ability, biocompatibility, and biodegradability.

Currently, the main products are dermal fillers, which are cosmetic surgery products, and adhesion prevention agents and joint tissue repair materials in the medical device field. Using MDM Tech, new biomaterial application products such as bladder tissue repair materials, biobreast, and bio-cartilage substitutes are under development.

In addition to biomaterial application products, BioPlus is focusing its capabilities on discovering future growth engines in the bio business by researching and developing next-generation new-concept botulinum toxin and diet injections (improved obesity treatments). To further strengthen its competitiveness and sales power in overseas markets, it has established a joint venture in the Hainan (海南) Free Trade Zone in China. It is promoting a project to build a cosmetic surgery complex platform that includes a local research and development (R&D) center, production base, and a well-being beauty franchise hospital.

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