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

[Asia Economy Reporter Jang Hyowon] In the fourth week of this month (May), LB Lucem, a manufacturer of display driver semiconductors, will conduct a demand forecast targeting institutional investors. ADM Korea, a contract research organization (CRO), is preparing for a general subscription.

◆LB Lucem= Established in 2004, LB Lucem is a manufacturer of display driver semiconductors and non-memory semiconductors. Its main business is packaging, which commercializes display driver ICs (DDI) necessary to drive the numerous pixels that make up mobile and medium-to-large displays.

LB Lucem's sales recorded 209.8 billion KRW last year, showing an average annual growth rate of 22.9% over the past three years. Operating profit also showed an average annual growth of 20.6%, reaching 20.8 billion KRW last year.

The total number of shares offered by LB Lucem is 6 million, with a desired public offering price of 12,000 to 14,000 KRW per share. Through this offering, approximately 72 billion KRW (based on the lower end of the desired price band) will be raised. The demand forecast for institutional investors will be conducted on the 26th and 27th to finalize the public offering price, followed by a general subscription on June 2nd and 3rd, with a planned listing in June. The joint lead managers are Korea Investment & Securities and KB Securities.

◆ADM Korea= ADM Korea confirmed its public offering price at 3,800 KRW, exceeding the top end of the desired range, with a competition rate of 1,515.98 to 1 in the demand forecast targeting institutional investors. ADM Korea will accept general investor subscriptions for 1,125,000 shares on May 25th and 26th, with a planned listing in June.

Founded in 2003, ADM Korea is a CRO company providing services across all areas of clinical trials to pharmaceutical companies and bio-ventures, as well as conducting post-marketing surveillance. It has differentiated itself in the market by offering comprehensive clinical services including clinical trial design, consulting, monitoring, data management, and regulatory affairs.

The funds raised through the listing will be used to target overseas markets. From this year, ADM Korea plans to establish clinical trial infrastructure in 10 Asian regions including India, the Philippines, and Singapore over the next three years.