April 26, 2024

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[THE INVESTOR] Samsung BioLogics, whose shares were listed on the Seoul bourse on Nov. 11, is set to make a fast entry into global indices.

FTSE and MSCI will include the Samsung Group’s biologic-drug-manufacturing arm into their indices following its strong market debut on the country’s benchmark KOSPI. 

“FTSE expects Samsung BioLogics to be a fast entry into the FTSE Global Equity Index Series after the close of business on Nov. 16,” according to a notice on FTSE’s website.

MSCI will include the stock into its global index with effect from Dec. 1.

Shares of Samsung BioLogics broke the first day of trading record as they surged 12.15 percent on Nov. 11, closing at 161,500 won (US$138.51). The price of its initial public offering was 136,000 won.

With the IPO, Samsung BioLogics raised up to 2.25 trillion won, marking the largest since Samsung Life Insurance’s 4.89 trillion won in 2010.

“Compared to previous fast entry cases, BioLogics is expected to see net inflow of 36 billion won from foreign investors prior to inclusion in FTSE and 120 billion won a day before MSCI inclusion,” said Kim Dong-young, an analyst at Samsung Securities said.

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