TDS Pharm, a transdermal drug delivery pharmaceutical company, announced on the 8th that it conducted a demand forecast for institutional investors over five days from the 31st of last month to the 6th and finalized the public offering price at 13,000 KRW. The total public offering amount is 13 billion KRW, and the market capitalization after listing is 71.9 billion KRW.
The demand forecast recorded a competition rate of 1,331.2. Among all participating institutions, including those that did not submit a price, 98.6% offered prices of 13,000 KRW or higher. The expected price range for the public offering was set between 9,500 KRW and 10,700 KRW.
A representative from Korea Investment & Securities, the lead manager of the listing, explained, "The majority of investors participating in the demand forecast positively evaluated TDS Pharm's excellent technological capabilities and growth potential."
TDS Pharm plans to use the funds raised through the initial public offering (IPO) for the development of improved new drugs linked to TDD, expansion of production capacity, and the establishment of new factories.
Kim Cheol-jun, CEO of TDS Pharm, said, "Many investors participated in the demand forecast after recognizing TDS Pharm's outstanding TDDS technology competitiveness," adding, "We will strive to grow into a global leading healthcare company specializing in TDDS through this listing."
TDS Pharm will accept subscriptions from general investors from the 9th to the 12th and will be listed on the KOSDAQ market on the 21st.
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