April 20, 2024

• 

[THE INVESTOR] Samsung BioLogics has priced its initial public offering at the top end of the marketed range with a market value that could make the firm the country’s 30th largest publicly traded company.

According to the filing of Samsung Group’s contract manufacturer of biologic drugs on Oct. 28, the shares will be sold at 136,000 won (US$118.83), compared with the offered range of 113,000 won to 136,000 won, valuing the company at 9 trillion won.

The public offering of 25 percent shares of the company is expected to consist of a new share issue of 11 million and the sale of 5.5 million existing shares by Samsung Electronics.

The quota set aside for institutional buyers was oversubscribed 281 times on Oct. 27 when the firm finished taking orders from them.

Samsung Group’s biologic-drug-manufacturing arm seeks to become the world’s largest contract manufacturer of biotech medicines through the offering as the group hunts for new sources of revenue.

The subscription period for individual investors will run from Nov. 2 to 3.

Shares of Samsung BioLogics are scheduled to be listed on Nov. 10.

By Park Han-na (hnpark@heraldcorp.com)