Remedi, a company specializing in ultra-compact X-ray solutions, drew strong demand in its retail subscription offering. The offering recorded a subscription ratio of 1,707 to 1, drawing deposits of 5.3 trillion won. Remedi, making its third attempt at an initial public offering (IPO) this year, plans to list on the KOSDAQ market on July 13.
According to the investment banking (IB) industry Wednesday, Remedi said its public offering subscription for retail investors, conducted over two business days starting the first of this month, recorded a subscription ratio of 1,707 to 1. The volume allocated to retail investors was 300,000 shares, and 51.2 million shares were subscribed. Subscription deposits totaled 5.3 trillion won.
Remedi had also secured ample demand in its earlier institutional book-building. The company set its offering price at the top of the range (17,800 to 20,700 won) in book-building conducted from June 17 to 23 this year. Of the 2,246 institutional investors that participated, 2,229 (99.3%) bid at or above the top of the range. The competition ratio at that time was recorded at 1,146 to 1.
The results are seen as reflecting an established consensus that the industrial X-ray market will gradually expand. "I thank the investors who recognized the value of our low-dose, miniaturized X-ray core technology," said Cho Bong-ho, Remedi's chief executive officer. "We will invest the funds secured through the listing into next-generation product development and capacity expansion, growing into a global X-ray platform company that encompasses not only medical use but also industrial non-destructive testing."
Meanwhile, Remedi plans to complete payment on the sixth of this month and list on the KOSDAQ market on the 13th. The company attempted to enter the stock market twice, in 2022 and 2024, but failed to clear the exchange's preliminary review threshold and withdrew each time. The lead underwriter guiding Remedi's third listing attempt is KB Securities.
