CellBion to list shares on KOSDAQ market in October

CellBion Inc., a South Korean radiopharmaceuticals firm, plans to sell some 1.91 million new shares through an initial public offering on the secondary KOSDAQ market next month, the company's CEO said Wednesday. The target price range for the shares is set between 10,000 won (US$7.50) and 12,200 won per share, with Daishin Securities Co. arranging the sale. The book building process for institutional investors will continue until Monday, and a general subscription will take place Oct. 7-8. "We aim to become a leading company in the global theranostic radiopharmaceutical market and by exporting treatment for prostate cancer," CellBion CEO Kim Kwon said in a press conference. Theranostics, which refers to a combination of therapeutics and diagnostics, is an emerging method used for cancer treatment. CellBion, founded in 2010, aims to first release its prostate cancer treatment in South Korea by the end of next year. Source: Yonhap News Agency