[Featured Stock] Geninus Falls 22% Below IPO Price on First Day of Listing...
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[Asia Economy Reporter Minji Lee] Geninus, a precision medicine genomic diagnostic company, has fallen 22% after listing on the KOSDAQ market, trading below its IPO price.
At 11 a.m. on the 8th, Geninus was trading at 14,150 KRW, down 21.39% from its opening price of 18,000 KRW. On the same day, Geninus started trading below its IPO price of 20,000 KRW and briefly reached 19,450 KRW during the session but then sharply declined.
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Geninus is a diagnostic company based on genomic analysis technology, providing solutions such as the liquid biopsy solution ‘LiquidScan’ and cancer genomic diagnostic solution ‘CancerScan’ to hospitals and research institutes. Previously, the company set its IPO price at 20,000 KRW, which was below the lower end of the expected price range (24,700 KRW to 32,200 KRW) during the institutional investor demand forecast. In the general public subscription, it recorded a final competition rate of 162.5 to 1, raising a total of 812.5 billion KRW in deposits.
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