Dongguk Life Science to Pursue IPO Within 2 Years... Underwriter Selected for Listing

[Asia Economy Reporter Kim Ji-hee] Dongkook Life Science, a subsidiary of Dongkook Pharmaceutical, announced on the 21st that it has selected NH Investment & Securities and KB Securities as lead underwriters and is pursuing an initial public offering (IPO).

Dongkook Life Science plans to secure new funds through an IPO within two years to accelerate its entry into the high-growth medical device markets such as the global market, artificial intelligence (AI), biologics, and in vitro diagnostics. In particular, it is also pursuing growth strategies through strategic alliances and M&A with bio companies in the future. Recently, it recruited Executive Director Lee Jae-hyuk, formerly of KPMG, to ensure a successful IPO.

A representative of Dongkook Life Science said, “We expect cost competitiveness to improve significantly once the production of contrast agent raw materials and finished pharmaceuticals at the Anseong plant, acquired from the global pharmaceutical company Bayer, is fully underway from next year,” adding, “We will continue activities to enhance corporate value in line with the new listing, such as the full operation of the Anseong plant and active open innovation.”

Meanwhile, Dongkook Life Science was established in May 2017. It has exclusive distribution rights contracts for Siemens Healthineers' ultrasound diagnostic devices and Vatech MCIS's portable CT scanners, and sells them to hospitals and clinics.