[This Week's IPO] Demand Forecast and Subscription Schedule for the Fourth Week of January

In the fourth week of this month (January), Kanaph Therapeutics will conduct a demand forecast targeting institutional investors. Deokyang Energen is preparing for its public subscription for general investors.

<Demand Forecast>

◆Kanaph Therapeutics=Established in 2019, Kanaph Therapeutics is developing innovative new drugs using human genome-based drug development technology. In particular, the company is continuously expanding its pipeline to address unmet medical needs of solid tumor patients through bispecific antibody-based immuno-oncology drugs targeting the tumor microenvironment and immune activation modulation technology, as well as ADC therapies utilizing next-generation ADC technology.

Through this IPO, the company plans to offer 2 million shares, with an expected offering price range of 16,000 to 20,000 won per share, resulting in an anticipated total offering amount of 32 billion to 40 billion won. The demand forecast is scheduled for January 21 to 27, and the public subscription for general investors will take place on January 29 and 30. The lead underwriter is Korea Investment & Securities.

<Public Subscription>

◆Deokyang Energen=The expected offering price range is 8,500 to 10,000 won per share, with a total offering amount of 63.7 billion to 75 billion won. The demand forecast was completed by January 16, and the public subscription will be held on January 20 and 21, after which the company is expected to be listed on the KOSDAQ market. Mirae Asset Securities and NH Investment & Securities are serving as joint lead underwriters.

Founded in 2020, Deokyang Energen is a hydrogen-specialized company that refines by-product hydrogen generated from caustic soda manufacturing and petrochemical processes into 'high-purity industrial hydrogen' using its proprietary technology and supplies it to the market.