Green Cross LabCell’s IPO price set at 18,500 won

[THE INVESTOR] Green Cross LabCell Corp. – a Green Cross affiliate that develops drugs for fighting incurable diseases – has officially priced its initial public offering at 18,500 won ($15.70), which is higher than previously indicated ranges, the company said on June 13.

Green Cross LabCell will raise 37 billion won with the IPO. The market capitalization of the firm is expected to reach around 195.2 billion won.

Its shares will be listed on the tech-heavy Kosdaq index on June 23.

The firm, which is one of Green Cross’ health care arms, developed MG4101, an allogeneic natural killer cell line.

By Kim Ji-hyun (jemmie@heraldcorp.com)