TDS Pharm, a specialized company in transdermal drug delivery pharmaceuticals, announced on the 12th that it recorded a subscription competition rate of 1,608.17 to 1 after conducting a public offering subscription for general investors over two days from the 9th to the 12th.
A total of 291,304 subscription applications were submitted for the 250,000 shares allocated to general investors. The subscription deposit amounted to approximately 2.61 trillion KRW.
TDS Pharm recorded a competition rate of 1,331.2 to 1 in the institutional investor demand forecast conducted over five days from the 31st of last month to the 6th, and the final public offering price was set at 13,000 KRW, exceeding the upper limit of the desired price band.
TDS Pharm plans to use the funds raised from this public offering for expanding CAPA through facility and new plant expansion, as well as for research and development of improved new drugs.
Kim Cheol-jun, CEO of TDS Pharm, stated, “We sincerely thank all investors who believed in TDS Pharm’s growth potential and supported us in the general subscription following the demand forecast,” and added, “We will grow into a company that realizes corporate development and enhances shareholder value through active communication with shareholders after listing.”
Meanwhile, TDS Pharm is scheduled to complete payment on the 14th of this month and enter the KOSDAQ market on August 21.
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