[Featured Stock] Osang Healthcare Soars 70% on First Day of KOSDAQ Listing

Osang Healthcare's stock price surged over 70% on its first day listed on KOSDAQ.

As of 11:02 AM on the 13th, Osang Healthcare was trading at 34,200 KRW, up 14,200 KRW (71.00%) from the public offering price of 20,000 KRW. Early in the session, the price even rose to 45,000 KRW.

Founded in 1996, Osang Healthcare operates in the in vitro diagnostics business, including biochemical and molecular diagnostics and immunodiagnostics. In 2003, it became the first Korean company to receive FDA approval in the U.S. for a personal blood glucose meter. The company entered the immunodiagnostics field in 2011 with the launch of the immunodiagnostic device SelexOn, and expanded into molecular diagnostics in 2013, developing MERS molecular diagnostic reagents in 2015 and COVID-19 molecular diagnostic reagents in 2020. The COVID-19 molecular diagnostic reagents were the first among Korean companies to receive FDA EUA (Emergency Use Authorization) in the U.S., and the subsequently developed immunodiagnostic (self-test kits) also received FDA EUA, establishing a comprehensive portfolio in the in vitro diagnostics field.

As of the third quarter of last year, cumulative sales reached 341.3 billion KRW, a 76.0% increase compared to the previous year. Operating profit during the same period was 150.1 billion KRW, and net profit was 120.7 billion KRW. These figures exceeded the full-year operating profit of 49.3 billion KRW and net profit of 40.7 billion KRW in 2022.

Osang Healthcare recorded a demand forecast competition rate of 993 to 1 among institutional investors from the 29th of last month to the 2nd of this month. The public offering price was set at 20,000 KRW, exceeding the upper limit of the expected range (13,000 to 15,000 KRW). Subsequently, the subscription for public shares by general investors recorded a competition rate of 2,126 to 1.