- 2,446 Korean and international institutions join, posting an 810.6:1 competition ratio
- 바카라 records the highest mandatory holding commitment this year among biopharmaceutical companies listed under the Technology Special Listing Act
[by Ji, Yong Jun] 바카라, a company specializing in the development of sustained-release pharmaceuticals, announced on August 4 that it has set its initial public offering (IPO) price at KRW 58,000 (approximately USD 41.9) per share, the upper limit of the proposed pricing range, after completing a demand forecasting process involving Korean and international institutional investors between July 25 and 31.
A total of 2,446 institutional investors participated in the demand forecast, resulting in a highly competitive subscription rate of 810.6 to 1. Based on the finalized offering price, the 바카라 is expected to raise approximately KRW 52.2 billion, with an estimated post-listing market capitalization of KRW 311.2 billion. 99.6% of the bids (including 1.4% submitted without a specified price) were placed above the upper limit of the price band (KRW 58,000), while 15.6% of participants committed to mandatory holding periods.
An official from Mirae Asset Securities, the lead underwriter for the listing, commented, "G2GBIO recorded the highest level of participation in demand forecasting and the greatest proportion of mandatory holding commitments among pharmaceutical and biotechnology firms listed under the Technology Special Listing Act in 2025." The official further noted, "Notably, the company’s proactive overseas investor relations (IR) efforts led to the participation of 132 international institutions, including entities based in Hong Kong and Singapore, reflecting strong global market interest."
The proceeds from the IPO will be allocated toward the expansion of the company’s first GMP-certified manufacturing facility, the construction of a second GMP plant, and the clinical development of its core pipeline candidates.
In particular, the second GMP facility, scheduled for completion in 2027, is expected to become the world's largest production site capable of producing 7 million doses of semaglutide annually. 바카라 anticipates that this large-scale production capacity will serve as a key differentiator in future co-development and technology transfer negotiations with major global pharmaceutical companies.
"Following our listing, we will expedite clinical trials for our key pipeline candidates, including treatment for obesity and dementia, while strengthening our production capabilities with the goal of becoming a leading global platform company specializing in sustained-release injectables," said Lee Hee-yong, CEO of G2GBIO.
On the other hand, 바카라 is scheduled to debut on the KOSDAQ market on August 14, following a two-day public subscription period on August 5 and 6. Mirae Asset Securities is serving as the lead underwriter for the offering.