ENSel, IPO Price Set at 15,300 Won

Encell, which is pursuing a listing on the KOSDAQ market, announced on the 9th that it has set the public offering price at 15,300 KRW.

Encell, a company specializing in contract development and manufacturing organization (CGT CDMO) for cell and gene therapies and new drug development, conducted a demand forecast for institutional investors from the 2nd to the 8th. The number of domestic and international institutional participants was 2,106, with a total of 1,070,890,000 shares submitted. The competition rate recorded was 949 to 1.

99.7% of all participating institutions offered prices at or above the upper limit of the desired public offering band. The proportion of those who offered prices exceeding the upper limit reached 43.8%. The company finalized the public offering price at the top end of the desired range (13,600 to 15,300 KRW), which is 15,300 KRW.

Based on the finalized public offering price, Encell's total public offering size is 24 billion KRW, and its market capitalization is 143.1 billion KRW. After the general public subscription over two days from the 12th to the 13th, it will enter the KOSDAQ market on the 23rd of this month.

Jongwook Jang, CEO of Encell, said, "We thank the investors who actively participated in the demand forecast, trusting our CGT CDMO and cell and gene therapy new drug development technology and the potential of the target market." He added, "We plan to use the funds raised through the KOSDAQ listing for the construction of the GMP Plant 4 and clinical trials for Charcot-Marie-Tooth disease (CMT)," and "We will leverage the KOSDAQ listing as a stepping stone to contribute to the localization of cell and gene therapies and lead the domestic advanced biopharmaceutical CDMO market."