[This Week's IPO] August Second Week Demand Forecast and Subscription Schedule

[Asia Economy Reporter Jang Hyowon] In the second week of this month (August), VigenCell will complete its demand forecasting and proceed with the general subscription. Lotte Rental, Aju Steel, and Brains Company are also preparing for their general subscriptions.

◆VigenCell= VigenCell is a specialized immunocellular therapy company established in 2013 that researches and develops immune checkpoint inhibitors and immunosuppressants targeting various cancers and immune diseases. In 2017, Boryung Pharmaceutical became the largest shareholder as a strategic investor.

The total number of shares offered by VigenCell is 1,886,480, all newly issued shares. The desired price range per share is from 42,800 KRW to 52,700 KRW, and the company plans to raise approximately 99.4 billion KRW based on the upper limit of the price band through this offering.

The proceeds will be used for research and development, facility investment, and operating funds. In particular, investments will be expanded for ▲technology advancement and pipeline competitiveness enhancement through clinical trials ▲discovery of new pipelines and expansion of R&D ▲construction of cGMP facilities and introduction of major equipment ▲business strategy and global market expansion operations.

VigenCell conducted demand forecasting on the 6th and will do so again on the 9th, finalize the offering price on the 11th, and proceed with the general subscription on the 12th and 13th. It is scheduled to be listed on the KOSDAQ market at the end of August, with Daishin Securities and KB Securities as underwriters.

◆Lotte Rental= Lotte Rental announced that it has set the offering price at the upper limit of the desired range, 59,000 KRW, based on the demand forecasting results. A total of 762 institutions participated in the demand forecasting, including 640 domestic and 122 overseas institutions, recording a competition rate of 217.6 to 1. Among the participating institutions' volume, 99.3% submitted prices at or above the upper limit of 59,000 KRW (including those who did not specify a price).

The total number of shares offered by Lotte Rental is 14,422,000, and the general subscription will be conducted over two days on the 9th and 10th, with the listing scheduled for August. The joint lead managers are Korea Investment & Securities and NH Investment & Securities, with KB Securities as a co-manager.

◆Aju Steel= Aju Steel announced that it has set the offering price at the upper limit of the desired range, 15,100 KRW, based on the institutional demand forecasting results. A total of 1,428 domestic and foreign institutions participated, recording a competition rate of 1,776.9 to 1. Among the participating institutions, 1,319 institutions, or 92.8%, offered prices at or above the upper limit.

Aju Steel will proceed with the general subscription on the 9th and 10th and be listed on the KOSPI market on the 20th. The lead manager is Mirae Asset Securities.

◆Brains Company= Brains Company announced that it set the offering price at 25,000 KRW, exceeding the upper limit of the desired range of 22,500 KRW, based on institutional demand forecasting results. A total of 1,507 institutions participated, recording a competition rate of 1,428.8 to 1.

Brains Company will accept general subscriptions on the 9th and 10th and be listed on the KOSDAQ market on the 19th. The listing underwriter is Kiwoom Securities.