[This Week's IPO] Demand Forecast and Subscription Schedule for the Fourth Week of September

by Jang Hyowon

Published 18 Sep.2022 08:00(KST)

Updated 21 Jul.2023 08:32(KST)

[Asia Economy Reporter Jang Hyowon] In the fourth week of this month (September), Model Solution and InnoRules will conduct demand forecasting for institutional investors. RP Bio, WCP, and Sun Bio are preparing for general subscription.

◆Model Solution= Model Solution has grown by operating manufacturing and small-volume mass production services for ▲design prototypes ▲functional prototypes ▲injection molding prototypes needed in the product development stages of various high value-added industries such as automobiles, aerospace, IT & telecommunications, and medical devices.

They are offering a total of 1 million shares with a desired public offering price band of 24,000 to 27,000 KRW per share. Demand forecasting for institutional investors will be conducted over two days on the 19th and 20th of this month to finalize the public offering price, followed by general subscription on the 26th and 27th. The company is scheduled to be listed on KOSDAQ next month, with KB Securities as the lead underwriter.

◆InnoRules= InnoRules operates a business developing and servicing digital transformation automation software solutions. The company provides services such as the digital decision automation system ‘InnoRules’ and the digital product information automation system ‘InnoProduct,’ helping companies strengthen their digital transformation capabilities.

The total number of shares offered is 1,154,744, with a desired public offering price range of 11,000 to 12,500 KRW per share. Approximately 14.4 billion KRW (based on the upper limit of the price band) will be raised through the offering. Demand forecasting for institutional investors will be held from the 22nd to 23rd, with the public offering price to be finalized, and general subscription scheduled for the 27th and 28th. The company plans to list in October, with NH Investment & Securities as the lead underwriter.

◆RP Bio= The expected public offering price is between 10,000 and 13,000 KRW, with 1.2 million shares to be offered, amounting to approximately 12 to 15.6 billion KRW. Demand forecasting was conducted until the 16th, and general subscription will be held on the 20th and 21st, with the company expected to enter the KOSDAQ market on the 29th. Korea Investment & Securities is the lead underwriter.

Founded in 1983, RP Bio is a softgel capsule specialized manufacturer established as a joint venture between the US-based R.P. Scherer and Daewoong Pharmaceutical. The company operates manufacturing businesses for all pharmaceuticals and health functional foods using softgel capsules.

◆WCP= The desired public offering price range is 80,000 to 100,000 KRW per share, with a total offering amount of approximately 900 billion KRW based on the upper limit of the price band. About 734 billion KRW will be raised through new share issuance. Demand forecasting was conducted on the 14th and 15th, and general subscription will be held on the 20th and 21st, with plans to list on KOSDAQ at the end of this month. KB Securities and Shinhan Financial Investment are the lead underwriters.

WCP is a specialized company developing and producing secondary battery separators used in electric vehicle batteries. Its main product is the 2nd generation coated wet separator, which combines the advantages of wet separators such as excellent air permeability and tensile strength with improved energy density and thermal stability through the 2nd generation coating process.

◆Sun Bio= The desired public offering price band is 14,000 to 16,000 KRW, with an expected offering amount of 8.6 to 9.9 billion KRW. Demand forecasting for institutional investors will be conducted until the 19th, followed by general subscription on the 22nd and 23rd, with plans to list on KOSDAQ in early October. Hana Securities is the lead underwriter.

Sun Bio is the only domestic bio company developing and applying PEGylation technology. PEGylation technology chemically attaches PEG derivative materials to the surface of target substances via covalent bonds to enhance the effects of the target substances. Using this technology, effects such as ▲increased blood half-life ▲reduced immune response and antigenicity ▲toxicity mitigation ▲improved structural stability can be applied to target substances.