Samsung BioLogics Co. hopes to raise up to $2.5 billion through IPO

0
764

Samsung BioLogics Co., the contract drug manufacturing unit of the South Korean conglomerate giant, the Samsung Group, is planning to raise up to $2.5 billion through a public offering, which will value the company at approximately $10 billion, it was learnt through sources privy to the matter.

Samsung BioLogics manufactures complex biologic drugs for its clients like the pharmaceutical giants, Bristol-Myers Squibb Co. and Roche Holding AG. The company is hoping to list shares in the South Korean market after filing for approval this week. Once approved, the company expects to complete the public offering by the fourth quarter, it was revealed by the source.

The source further added that the company is expected to raise between $1 billion to $2.5 billion after listing its shares to the 10% to 25% of its shares to the public, as part of the South Korean listing requirement and investor demand.

According to Samsung BioLogic’s website, the company aims to be a world leader in biologics development and manufacturing and to dedicate itself to improving global healthcare. The company, with its research centers located in Incheon, South Korea, will offer a full range of biologics development and manufacturing solutions.

This year’s largest global inital public offering (IPO) was in May when the Danish utility company, Dong Energy, raised up to $2.61 billion. If Samsung BioLogics is successful in selling 25% percent of its shares, it would closely reach Dong Energy’s amount raised.

LEAVE A REPLY

Please enter your comment!
Please enter your name here