HL Genomics, an active pharmaceutical ingredient (API) manufacturer, will list on the KOSDAQ market on May 24. The company set its offering price at 21,500 won, the top of its 18,500-21,500 won indicative range, following strong demand from both institutional and retail investors. The listing marks the first public debut among Hanrim Pharmaceutical's affiliates, with HL Genomics producing high-value APIs for chronic disease treatments including cardiovascular, allergy, diabetes, obesity, and neuropsychiatric therapies.
HL Genomics Records 667:1 Retail Subscription Ratio
The company attracted 2,148 institutional investors during its book-building process, achieving a competition ratio of 714.52 to 1. Retail subscription conducted on May 13-14 recorded a competition ratio of 667.23 to 1, drawing approximately 4.6 trillion won in subscription deposits. On the first trading day, shares can trade between 12,900 won and 86,000 won, representing a range of 60% to 400% of the offering price.
Company Operates as Hanrim Pharmaceutical's Wholly Owned Subsidiary
Founded in 2000, HL Genomics manufactures high-value APIs for chronic disease treatments in cardiovascular, allergy, diabetes, obesity, and neuropsychiatric categories. Hanrim Pharmaceutical holds a 100% stake in the company, making HL Genomics the first affiliate within the Hanrim group to enter public markets. The company has maintained profitability for 19 consecutive years, securing Hanrim Pharmaceutical as a stable customer base while expanding external sales through long-term client relationships.
HL Genomics Reports 9.3 Billion Won Operating Profit in 2023
Revenue reached 28.9 billion won in 2023, up 2.5% year-over-year, while operating profit grew 3.3% to 9.3 billion won. The company's three-year average operating margin stands at 32.3%. The public offering raised approximately 55.1 billion won, with an estimated market capitalization of 167.3 billion won based on the offering price.
Hansoltech and Daedong Gear Schedule Upcoming Subscriptions
Hansoltech will conduct an existing shareholder subscription on May 20. Daedong Gear will hold a retail subscription on May 21. Hanwha Solutions has scheduled an existing shareholder subscription for May 22-23.
FAQ
What is HL Genomics' offering price for its KOSDAQ listing?
HL Genomics set its offering price at 21,500 won, the top of its indicative range of 18,500-21,500 won.
How much subscription deposit did HL Genomics attract during retail subscription?
The company drew approximately 4.6 trillion won in subscription deposits during its retail subscription on May 13-14, recording a competition ratio of 667.23 to 1.
What financial results did HL Genomics report in 2023?
HL Genomics reported revenue of 28.9 billion won (up 2.5% year-over-year) and operating profit of 9.3 billion won (up 3.3% year-over-year) in 2023, with a three-year average operating margin of 32.3%.
