Voronoi, IPO Price Set at 40,000 Won

[Asia Economy Reporter Lee Gwan-joo] Voronoi announced on the 13th that it has finalized the public offering price at 40,000 KRW following a demand forecast conducted for domestic and international institutional investors.

During the demand forecast held on the 8th and 9th, 150 institutions participated, recording a competition rate of 28.35 to 1. The public offering amount is 52 billion KRW, and the market capitalization after listing is approximately 505.5 billion KRW.

Of the 27.65 million shares involved in this demand forecast, 57% were taken by overseas institutions. A representative from Korea Investment & Securities, the lead underwriter, explained, “Some domestic and international institutional investors highly valued Voronoi’s technological capabilities and requested large allocations, which were granted. Considering the recent unstable stock market and the weakened investment sentiment toward bio companies, we decided on a market-friendly price for the public offering.”

Voronoi plans to use the funds raised through this initial public offering (IPO) for research and development expenses and operating funds, laying the foundation for sustainable growth by creating multiple pipelines.

Kim Dae-kwon, CEO of Voronoi, stated, “Taking this listing as an opportunity, we will expand our research and development capabilities and increase our clinical pipelines. Additionally, we will keep our promise of ‘at least two technology exports annually’ to reward our shareholders with higher corporate value.”

Meanwhile, Voronoi is scheduled to be listed on the KOSDAQ market on the 24th after general investor subscriptions on the 14th and 15th. The listing is jointly managed by Korea Investment & Securities and Mirae Asset Securities.

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