The initial public offering pipeline from Korea clogged by virus scare has gained life, led by blockbuster SK Biopharmaceuticals and bio or diagnostic kit names that have gained international spotlight from COVID-19 outbreak.

The Korea Exchange announced Sunday a total of 11 companies are planning IPOs with retail subscription due in June, 5.5 times more than a month earlier. Only two made debut on bourses after public subscription in May and zero in April.

SCM Life Science, a Korean company found in 2014 with focus on the isolation of high-purity homogeneous stem cells for therapeutic purposes, will offer 1.8 million shares with an aim to raise up to 30.6 billion won ($25 million) on the secondary Kosdaq. Pricing is proposed from 14,000 won to 17,000 won apiece.

Two-day book-building starts on Tuesday, and retail investors are able to subscribe its shares on June 8-9.

Leading Edge Technology (LET), a display module equipment maker, debuts on Kosdaq with offering of 2.2 million shares at its desired price of 6,400-7,800 won apiece. Book-building is due on June 4-5, and public subscription on June 11-12.

Gencurix Inc., a Korean molecular diagnostics company that developed a breast cancer prognostic test, is readying retail subscription on June 15-16.

SK Biopharmaceutical, set to become the largest offer of the year, is preparing book-building session on June 17-18 to offer about 704.8-959.4 billion won worth new shares. Market experts expect its market value could reach 4 to 5 trillion won after the initial offering.

Psomagen, a U.S.-based genome and RNA sequencing technology company spun off from Kosdaq-listed genomics service provider Macrogen, has delayed its offering schedule for 4.2 million shares.

From January to May, a total of 60 companies have filed for a preliminary review to go public on Korean bourses, up from 58 a year ago. In May alone, 18 applied for review including this year’s hottest Big Hit Entertainment, the K-pop agency that is home to the boyband sensation BTS, on track with its plan to go public on the main Kospi by the year-end.

Internet-only Kakao Bank is expected to seek for an IPO in the second half of the year.

By Park Jae-young and Lee Ha-yeon

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]