Bio entrants to the Korean stock markets will likely be outnumber last year’s record as the second-half pipeline is more packed than the first.
A total of 16 pharma and biotech firms are prepping to go public on the Kospi or Kosdaq, of which five companies (SD Biosensor, Curacle, Deepnoid, Vigencell, and HK inno.N) already passed a preliminary IPO review. Eleven others including Abion and CHA Vaccine Institute filed for preliminary review on their prospectuses. In the first half, 10 pharma and biotech firms went public.
Eased regulations and favorable market environment has been hastening IPOs in the healthcare sector, with the annual count expected to reach 30.
Voronoi, Toolgen, Shaperon, and D&D Pharmatech are among these hopefuls in the latter part of the year.
There were eight newly listed companies including artificial intelligence tech firm Vuno on the Kosdaq in the first half. The number of new IPOs in the first half is three times higher than a year-ago period.
A simplified review process is another contributing factor behind the increase. Regulators have lowered the bar for special conditions for money-losing but promising ventures to go public, and companies with a market cap of over 500 billion won ($442 million) only have to get technology evaluation from one independent evaluating agency instead of two to file for IPO.
By Park Yoon-gyun and Minu Kim
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]