[Hot Stock] IM Biologics Surges 300% on First Day of KOSDAQ Listing

IM Biologics succeeded in achieving a "Tta-Tta-Ble" (a quadruple increase from the IPO price) on its first day of trading on the KOSDAQ.

As of 9:07 a.m. on March 20, IM Biologics was trading at 104,000 won, up 300% from its IPO price of 26,000 won.

IM Biologics set its IPO price at the upper end of the desired price band, 26,000 won, after recording a competition ratio of 839.23 to 1 in the institutional investor book-building process held from February 27 to March 6. Subsequently, the public subscription conducted on March 11-12 saw a competition ratio of 1,806 to 1. Approximately 11.7 trillion won was collected as subscription deposits.

Founded in 2020, IM Biologics is a biopharmaceutical company developing antibody drugs targeting autoimmune diseases. Recognized for the value of its pipeline based on its proprietary platform technology, the company received A and A ratings from two professional evaluation agencies in July last year, successfully passing the technology evaluation threshold.

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