[Special Stock] HK Innoen Shows Strong Performance on First Day of Listing

[Asia Economy Reporter Song Hwajeong] HK Innoen is showing strong performance on its first day of listing.

As of 11:01 AM on the 9th, the stock was trading at 76,000 KRW, up 11.60% (7,900 KRW) from the opening price. The opening price was set at 68,100 KRW, 15.4% higher than the public offering price of 59,000 KRW.

In the institutional investor demand forecast, HK Innoen recorded a competition rate of 1,871 to 1, the highest ever for KOSDAQ public offerings and the bio-pharmaceutical sector. The general public subscription competition rate was 388.90 to 1, attracting a general subscription deposit of 29.0171 trillion KRW.

Formerly CJ Healthcare, HK Innoen is a bio-health company that launched the hangover relief drink 'Condition'. It holds over 160 prescription drugs across seven disease areas including circulatory and digestive systems, including Korea's 30th new drug for gastroesophageal reflux disease treatment, 'K-CAB'. Among these, 13 prescription drugs have annual sales exceeding 10 billion KRW each.