Voronoi to Reattempt KOSDAQ Listing... Public Offering Price Lowered to 40,000 Won

[Asia Economy Reporter Lee Gwan-joo] Voronoi, which previously halted its process of listing on KOSDAQ, is challenging the listing again by lowering the public offering price.

Voronoi announced on the 14th that it has submitted a securities registration statement to the Financial Services Commission and has begun the formal public offering process for listing on KOSDAQ.

Voronoi, which was previously pursuing the listing, conducted a demand forecast for institutional investors on March 14-15 but halted the listing process considering investor protection and other factors.

Voronoi decided to retry the public offering considering investor protection, company growth strategy, and market conditions. The adjusted number of shares to be offered was reduced to 1.3 million shares, and the planned offering price was lowered to 40,000 KRW. The total public offering amount is 52 billion KRW.

The majority of existing shareholders voluntarily imposed lock-up on their shares, increasing the post-listing restricted shares to 74.4%. Accordingly, excluding the shares offered in this public offering, the circulating shares within one month after listing will be reduced to 15.3%, lowering the possibility of an overhang (large-scale sale waiting volume) immediately after listing.

Reflecting recent progress in License-Out negotiations, Voronoi expects sales to increase by 76%, from 14.8 billion KRW last year to 26.1 billion KRW this year. Kim Dae-kwon, CEO of Voronoi, said, “There has been a change in sales estimates as negotiations with global pharmaceutical companies have progressed,” adding, “We will do our best to succeed in global technology transfers and expand an excellent pipeline this year as well.”

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