Ingenia Therapeutics is experiencing a 7% increase on its first day of trading on the KOSDAQ market on August 18.
According to the Korea Exchange, as of 1:37 PM, Ingenia Therapeutics shares were trading at 12,940 won, up 930 won (7.75%) from the previous trading day.
The company opened at 10,960 won, which is 8.67% lower than its initial public offering (IPO) price. The stock initially fell to 9,900 won, representing a 17.50% drop from the IPO price, but later rebounded.
Previously, Ingenia conducted a public offering for individual investors on July 30 and 31, achieving a competition rate of 3.09 to 1. The demand forecast for institutional investors, held from July 20 to 24, recorded a competition rate of 50.4 to 1. Consequently, the final IPO price was set at 12,000 won, the lower end of the company's proposed range, raising approximately 60 billion won in total.
Founded in 2018 in Boston, Ingenia Therapeutics is a biopharmaceutical company focused on developing antibody drugs to address diseases related to microvascular damage.
Han Sang-yeol, CEO of Ingenia Therapeutics, stated, "We have reached a significant turning point with our KOSDAQ listing. We will focus on generating results from our subsequent pipeline and aim to prove our technological capabilities in the global market while growing alongside our shareholders."
* This article has been translated by AI.
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