Mirae Asset Financial Group said on April 16 it has sold Nasdaq-listed German drugmaker BioNTech for $37 million, earning a hefty profit from its previous investment of $15 million.
The German company is known to hold one of the three mRNA-based substance that is currently a candidate for COVID-19 vaccines.
Three months after making its deal, the phara firm went to public on Nasdaq through the American Depository Receipt -- the way of making hard-to-trade foreign stocks available to investors in the United States.
After fulfilling safeguard deposit at the end of this month, Mirae Asset will realize nearly a 2.5 times of profit from its previous investment.
The BioNTech deal is the first retrieval from Mirae Asset-Naver Asia Growth Fund, which was launched in June 2018. Its overseas affiliate firms also invested together for the investment.
By Jie Ye-eun (firstname.lastname@example.org)