[This Week's IPO] April Fourth Week Demand Forecast and Subscription Schedule

This month (April), Innogrid, Seers Technology, and ICTK will conduct demand forecasting. DNDPharmatech, Mintech, Cochip, and HD Hyundai Marine Solutions are preparing for general subscription.

◆Innogrid= Innogrid is a specialized company in intelligent hybrid cloud operation platforms, focusing on this field since cloud computing first emerged in 2009. It owns solutions such as the self-developed all-in-one private cloud solution ‘Cloudit’ and the OpenStack-based ‘OpenStackit’.

It plans to offer a total of 600,000 shares. The desired public offering price range is 29,000 to 35,000 KRW. The total offering amount is 17.4 billion KRW. Demand forecasting for institutional investors will be conducted from the 22nd to the 26th, followed by general subscription on May 7th and 8th. The lead underwriter is Korea Investment & Securities.

◆Seers Technology= Seers Technology is a digital healthcare solution company providing diagnostic support and remote patient monitoring services based on wearable medical devices and AI reading algorithm-based software. It operates the diagnostic support service ‘mobiCARE™’ and the remote patient monitoring service ‘thynC™’.

It plans to offer 1.3 million shares in this IPO. The desired public offering price band per share is 10,500 to 14,000 KRW, with an expected offering amount of approximately 13.7 billion to 18.2 billion KRW. Demand forecasting for institutional investors will be conducted from the 24th to the 30th to finalize the offering price, and general subscription will be held from May 7th to 8th. It is scheduled to be listed on the KOSDAQ market in May, with Korea Investment & Securities as the lead underwriter.

◆ICTK= ICTK presents a new security paradigm by granting a root of trust to communication equipment or devices through its unique technology called ‘VIA PUF’. With the advent of quantum computers increasing hacking threats to existing key-based cryptographic algorithms, ‘PUF’ technology becomes the strongest means to protect cryptographic keys.

The planned offering is 1.97 million shares with a desired price range of 13,000 to 16,000 KRW. The expected market capitalization after listing is approximately 170.7 billion to 210.1 billion KRW. Demand forecasting will be conducted over five days from the 24th to the 30th, followed by general subscription on the 7th and 8th. The lead underwriter is NH Investment & Securities.

◆DNDPharmatech= The public offering price was finalized at 33,000 KRW, exceeding the upper limit of the desired band (22,000 to 26,000 KRW). A total of 2,181 institutions participated in the demand forecasting, recording a final competition rate of 848.5 to 1. The offering amount is approximately 36.3 billion KRW, and the market capitalization upon listing is expected to be 344.2 billion KRW. Subscription will be held over two days on the 22nd and 23rd, with listing on the KOSDAQ market scheduled for May 2nd. The lead underwriter is Korea Investment & Securities.

Founded in 2014, DNDPharmatech specializes in developing chronic disease treatments using GLP-1 peptide-based drugs. The company is developing multiple innovative GLP-1-based new drugs, including oral obesity treatments (DD02S, DD03), injectable MASH treatments (DD01), and degenerative brain disease treatments (NLY01).

◆Mintech= The total number of shares offered is 3 million, with a desired price band of 6,500 to 8,500 KRW. The offering size is approximately 19.5 billion KRW based on the lower limit, and the expected market capitalization after listing is 158.4 billion KRW. Demand forecasting was conducted until the 18th, and general subscription will be held on the 23rd and 24th. The lead underwriter is KB Securities.

Founded in 2015, Mintech is an innovative solution company in battery and energy storage system (ESS) inspection and diagnosis, being the only domestic company to commercialize third-generation battery diagnosis technology based on electrochemical impedance spectroscopy. Its main business areas include battery diagnosis systems, charge-discharge inspection equipment, and chemical process systems.

◆Cochip= The desired public offering price band per share is 11,000 to 14,000 KRW, with an expected offering amount of approximately 21 billion KRW based on the upper limit. Demand forecasting for institutional investors was conducted until the 19th, and general subscription will be held on the 24th and 25th. The lead underwriter is Korea Investment & Securities.

Cochip, established in 1994, is a specialized manufacturer of ultra-small secondary batteries, mainly producing carbon-based ‘ChipCell Carbon’ and lithium-based ‘ChipCell Lithium’ secondary batteries. With 31 years of experience, it produces ultra-small secondary batteries used in various downstream industries.

◆HD Hyundai Marine Solutions= The desired public offering price range per share is from 73,300 to 83,400 KRW, with a total expected offering amount between 652.4 billion and 742.3 billion KRW. Demand forecasting will be conducted until the 22nd, and general subscription will be held on the 25th and 26th. The lead underwriters are KB Securities, UBS, and JP Morgan, with Shinhan Investment Corp. and Hana Securities as joint underwriters. The underwriting group also includes Samsung Securities and Daishin Securities.

HD Hyundai Marine Solutions was established as an independent corporation in 2016 to respond to the increasing demand for ship aftermarket (AM) services. Since then, in line with the global eco-friendly trend such as ship decarbonization and digitalization, it has gradually expanded its business areas from existing ship AM services to eco-friendly retrofitting and digital solutions.