Nextbiomedical Confirms Public Offering Price at Upper Limit of 29,000 Won

Next Bio Medical, an innovative therapeutic device developer, has set its public offering price at 29,000 KRW. The total offering amount is approximately 29 billion KRW, and the market capitalization after listing is 232.2 billion KRW.

Next Bio Medical announced on the 6th that after conducting a demand forecast targeting domestic and international institutional investors for five days from the 29th of last month to the 2nd, it finalized the public offering price at the upper end of the desired range (24,000 to 29,000 KRW), 29,000 KRW.

A total of 1,116 institutional investors participated in the demand forecast, recording a competition rate of 356.9 to 1. 95% of the participating institutions offered prices at or above 29,000 KRW.

A representative from Korea Investment & Securities, the lead underwriter, said, "The strong global partnership with Medtronic and the approximately twofold sales growth through the sales of innovative therapeutic device finished products in overseas markets received positive evaluations."

Next Bio Medical plans to use the funds raised through its initial public offering (IPO) for clinical trials of Nexsphere-F™, a musculoskeletal pain embolization therapeutic device, to enter the U.S. market and secure a leading position in the global market.

Next Bio Medical CEO Donhaeng Lee said, "Even after listing, we will expand research on medical device convergence products and global business expansion to become a company that provides converged medical solutions."

Next Bio Medical will conduct subscription for general investors over two days from the 7th to the 8th. It will be listed on the KOSDAQ market on the 20th.

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