[Featured Stock] Dongguk Life Science, KOSDAQ Listing First Day Stock Price Up 50%

Dongkuk Life Science is showing a strong performance with over 50% gains on its first day listed on KOSDAQ.

As of 9:12 a.m. on the 17th, Dongkuk Life Science is trading at 13,570 KRW, up 4,570 KRW (50.78%) from the public offering price of 9,000 KRW. At the opening, the stock even surged 72.22% to reach 15,500 KRW.

Dongkuk Life Science conducted a demand forecast targeting domestic and international institutional investors over five trading days from the 20th to the 24th of last month, recording a competition rate of 117.8 to 1. However, the public offering price was set at 9,000 KRW, significantly below the expected offering range of 12,600 to 14,300 KRW.

Founded in May 2017, Dongkuk Life Science has held the number one market share in the domestic contrast agent market since its establishment. In addition to CT and MRI contrast agents, the company also distributes diagnostic equipment (MEMD), supplying products to major medical institutions such as tertiary hospitals and general hospitals.

Last year, Dongkuk Life Science recorded sales of approximately 133.5 billion KRW, a 33.5% increase compared to the previous year, and operating profit rose 26.8% to 12 billion KRW. Since its founding in 2017, the company has achieved a compound annual growth rate of 15.6% in sales and 14.5% in operating profit.

Dongkuk Life Science plans to focus the funds raised through its initial public offering (IPO) on accelerating the development of new contrast agent drugs and preparing for regulatory approval for global exports. Additionally, the company will invest about 12.3 billion KRW to expand facilities at its Anseong factory, which produces raw materials and finished pharmaceuticals for contrast agents, aiming to maximize production efficiency by actively responding to domestic and international demand through a one-stop production line.