SEOUL, August 31 (AJP) - South Korean digital healthcare company Sky Labs will make its KOSDAQ debut Friday after setting its offering price at the bottom of its proposed range, with more than 60 percent of institutional orders coming in below the minimum price sought by the company.
The company is scheduled to list on Sept. 4 at an offering price of 10,000 won ($7.20) per share, with Korea Investment & Securities serving as the lead underwriter. Retail subscriptions were held on Aug. 26 and 27, drawing an overall competition ratio of 2.85 to 1.
The subdued response comes as several newly listed companies have struggled in their first sessions, weighing on sentiment toward upcoming offerings. KIDO Industrial, an industrial safety equipment maker, Nearthlab, a drone technology company, and Haechitech, a semiconductor equipment maker, all ended their first trading day below their respective IPO prices.
Sky Labs develops wearable devices that allow users to measure health indicators through a ring worn on the finger. Its flagship product, Cardio Tracker (CART), is an artificial intelligence-powered, ring-shaped cuffless blood pressure monitor designed to continuously monitor blood pressure without a conventional arm cuff.
According to the company, CART has undergone clinical validation and received regulatory approvals in South Korea, Europe and Britain. It is used to collect blood pressure data in hospitals and patients' daily lives.
The company plans to use the technology to measure a broader range of health indicators, including pulse, respiratory rate and body temperature. It also plans to track blood oxygen levels and expand its medical data business.
AJP Takeaways
• Sky Labs is scheduled to list on the KOSDAQ on Sept. 4, 2026, with an offering price of 10,000 won per share.
• More than 60 percent of institutional investors' bookbuilding orders for Sky Labs were submitted below the lower end of the proposed price range.
• Sky Labs develops a ring-type wearable that measures blood pressure and plans to expand into broader health monitoring and medical data services.
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