[This Week's IPO] June Third Week Demand Forecast and Subscription Schedule

This month (June), the third week will see E&C conducting a demand forecast targeting institutional investors. Haizen R&M, HVM, and Innospace are preparing for general subscription.

◆E&C= Founded in 2018 by Professor Jang Jong-wook of Samsung Seoul Hospital, the company operates ▲CDMO business for cell and gene therapies ▲development of next-generation mesenchymal stem cell therapy (EN001) new drugs targeting rare and intractable muscle diseases such as Charcot-Marie-Tooth disease (CMT), Duchenne muscular dystrophy (DMD), and sarcopenia.

The main clients of the CDMO business range from global major pharmaceutical companies like Janssen and Novartis to domestic and international pharmaceutical companies without GMP (manufacturing and quality control) facilities, bio ventures, national research institutes, and universities.

The total number of shares offered is 1,566,800, with a desired offering price band of 13,600 to 15,300 KRW per share, and the offering size is expected to be approximately 21.3 billion to 24 billion KRW. The demand forecast for institutional investors, where the final offering price will be determined, will be conducted over five business days from the 17th to the 21st, and the subscription for general investors will take place on the 25th and 26th. The lead underwriter is NH Investment & Securities.

◆Haizen R&M= A total of 3.4 million shares will be offered. The desired offering price per share is 4,500 to 5,500 KRW, with a total expected offering amount of approximately 15.3 billion to 18.7 billion KRW. The demand forecast for institutions was conducted over five days from the 7th to the 13th, followed by general subscription on the 18th and 19th, aiming for listing this month. The lead underwriter is Korea Investment & Securities.

Haizen R&M started in 1963 as the motor division of LG Electronics and has accumulated about 60 years of know-how in actuator technology. Utilizing motor technology developed in the early stages of the business by designing and manufacturing industrial motors for petrochemical and machine tool industries, the company has independently developed all actuator components such as servo motors and reducers used in industrial robots and collaborative robots.

◆HVM= The desired offering price band per share is 11,000 to 14,200 KRW, with an expected offering amount of approximately 34.1 billion KRW based on the upper limit. The demand forecast for institutional investors will be conducted from the 11th to the 17th to finalize the offering price, followed by general subscription from the 19th to the 20th. The company plans to list on the KOSDAQ market in June, with NH Investment & Securities as the lead underwriter.

Established in 2003, HVM is a high value-added metal manufacturing specialist company that has built outstanding competitiveness in the advanced metal manufacturing field. It has also succeeded in developing the core material for FMM (Fine Metal Mask), an essential component in OLED display manufacturing.

◆Innospace= The desired offering price per share is 36,400 to 43,300 KRW. Approximately 48.4 billion KRW will be raised through this offering. The demand forecast for institutional investors will be conducted until the 17th to finalize the offering price, followed by general subscription on the 20th and 21st. Mirae Asset Securities is the lead underwriter.

Innospace, established in 2017, is the only domestic startup based on independent hybrid rocket technology for space launch vehicles. Using its representative launch vehicle ‘Hanbit (HANBIT)’, it commercializes launch services to transport satellites for customers worldwide into space.