Jin System Confirms Public Offering Price at 20,000 Won... "Entering KOSDAQ on the 26th"

[Asia Economy Reporter Yoo Hyun-seok] Jinsystem, a field molecular diagnostic platform company, announced on the 11th that the public offering price was set at 20,000 KRW, the upper limit of the desired band (16,000~20,000 KRW), in a demand forecast conducted for domestic and foreign institutional investors on the 6th and 7th.

A total of 1,070 institutions participated in this demand forecast, applying for 900 million shares. The simple competition rate recorded was 934 to 1. The public offering amount is expected to be 28.5 billion KRW, and the market capitalization is expected to be 136.2 billion KRW.

A representative from the lead underwriter stated, “98.7% of the application volume was concentrated at or above the upper limit of the band, demonstrating the market’s high interest and confidence in Jinsystem’s growth potential,” adding, “In particular, it is significant in that the platform competitiveness capable of accurately diagnosing similar diseases (respiratory and digestive infectious diseases) related to SMT (symptom-based multiplex testing) has been proven.”

Jinsystem’s strength lies in its rapid field molecular diagnostic platform, which is based on differentiated technology that shortens testing time and reduces the testing process. Additionally, the company possesses essential High Multiplex technology in the SMT market, which has a compound annual growth rate (CAGR) of 12.6%. Existing multiplex technology can detect up to 25 targets in a single test. In contrast, Jinsystem’s technology enables multiplex diagnostics of more than 50 targets, securing a comparative advantage over other companies, which has been highly evaluated.

The funds secured through the public offering will be used to expand the mid- to long-term growth foundation. The company plans to continuously invest in production facilities and research and development (R&D) to leap forward as a global leader in field molecular diagnostic platforms.

Seo Yoo-jin, CEO of Jinsystem, said, “After listing, through continuous research and development, we will lead business diversification into various field molecular diagnostic testing areas beyond human diagnostics, such as food safety testing and companion animal diagnostic testing,” and added, “We will repay the support of investors who positively evaluated Jinsystem’s technology and differentiated competitiveness during the demand forecast period.”

Jinsystem plans to enter the KOSDAQ market on the 26th after subscription for general investors on the 13th and 14th.