Noeul, Public Offering Price Set at 10,000 Won... General Subscription on 21st-22nd

[Asia Economy Reporter Jang Hyowon] The offering price of Noeul, a next-generation diagnostic testing platform company (CEO Lim Chanyang, Lee Dongyoung), has been set at 10,000 KRW.

Noeul announced on the 18th that the offering price was finalized at 10,000 KRW following a demand forecast conducted for institutional investors on the 15th and 16th. A total of 163 institutions participated in the subscription of 960,000 shares, which accounts for 64% of the total offering volume, resulting in a competition rate of 31.5 to 1.

Accordingly, a total of 15 billion KRW is expected to be raised through this offering, and the funds from the new share subscription will be used for system development in the precision medicine field, research and development in remote diagnostics, and investment in production facilities.

A Noeul representative stated, “A total of 163 institutions participated in the demand forecast, showing relatively high interest from investors despite the currently frozen IPO market atmosphere. However, considering the recent stock market downturn and the sluggish stock prices of bio companies since last year, the offering price was set low to match market conditions.”

Noeul developed the ‘miLab (Micro-Intelligent LABoratory) platform,’ which diagnoses diseases by analyzing blood and tissue cells based on embedded AI technology and its proprietary NGSI (Next Generation Staining and Immunostaining) technology, a solid-state next-generation staining and immunodiagnosis method.

miLab implements micro-scale diagnostic testing processes in a portable, compact device while guaranteeing diagnostic accuracy at the level of experts in large hospitals through artificial intelligence. In the future, Noeul plans to expand disease diagnosis areas through miLab from infectious diseases such as malaria to blood analysis and various cancer diagnoses.

Lim Chanyang, CEO of Noeul, said, “Through the next-generation diagnostic testing platform miLab, Noeul aims to decentralize medical services centered on large hospitals to patient-centered care, thereby dramatically improving medical accessibility. We deeply thank the institutional investors who have shown interest in Noeul, and through this KOSDAQ listing, we will accelerate new business initiatives and enhance investor trust.”

Noeul’s public subscription for general investors will be conducted over two days from the 21st to the 22nd, targeting 375,000 shares, which is 25% of the total offering volume, and the company is scheduled to be listed on the 3rd of next month. Korea Investment & Securities is the lead underwriter, and Samsung Securities is participating as a joint underwriter.

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