Samsung Bioepis, a bio-pharmaceutical unit of Samsung Group, is taking steps to list itself on the NASDAQ market by March 2016.
A top-ranking official at Samsung Bioepis said on July 26, “We are set to enter the process of selecting a lead manager for our listing in March 2016. We will send a request for proposal to a group of securities firms in and outside Korea within this week and complete the selection by August 15.”
The official added, “We aim to raise 2 trillion won through listing on the NASDAQ. Samsung Bioepis would be the first bio-drug company that attempts to raise a 2-trillion-won fund through an IPO on the NASDAQ market.”
Considering that Samsung Bioepis is estimated by the market to have a corporate value of about 10 trillion won, the 2-trillion-won IPO is not an excessive goal. Samsung Bioepis expects its corporate value to be recognized most highly in next March when its first biosimilar product would garner the approval for sales in overseas markets.
Samsung Bioepis expects the European Medicines Agency to approve the sales of its biosimilar SB4 sometime between February and March 2016.
