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reuters : Samsung BioLogics share sales to begin Wednesday

Samsung BioLogics prices $1.97 billion IPO, S.Korea’s second largest

Samsung BioLogics prices $1.97 billion IPO, S.Korea's second largest

SEOUL Contract drugmaker Samsung BioLogics Co Ltd priced its initial public offering (IPO) at the top of its indicative range on Friday, making the share sale South Korea’s second-largest ever at 2.25 trillion won ($1.97 billion).The deal will give 1.5 trillion won in fresh capital to Samsung Group’s [SAGR.UL] biopharmaceuticals arms at a time when South Korea’s biggest conglomerate hunts for new avenues of growth.BioLogics and subsidiary Samsung Bioepis, which makes lower-cost copies of complex biotech drugs known as biosimilars, are central to the conglomerate’s pharmaceuticals push championed by de facto leader Jay Y. Lee.

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Samsung BioLogics share sales to begin Wednesday

Samsung BioLogics share sales to begin Wednesday

Samsung BioLogics employees work inside a lab at the company`s headquarters in Songdo, Incheon (Samsung BioLogics)Shares of Samsung BioLogics will be offered for sale to interested investors on Wednesday and Thursday, as the South Korean contract drug manufacturer prepares to go public on Korea’s main bourse on Nov. 10.The company has priced its shares at 136,000 won ($118.83) apiece.This pricing scheme values the share sale at 2.25 trillion won and sets Samsung BioLogics’ market value at 9 trillion won.Samsung BioLogics is offering 25 percent of the company’s ownership, comprising of 11 million newly issued shares and 5.5 million existing shares owned by Samsung Electronics, as part of its initial public offering.Of this, around 20 percent of the shares are being offered for subscription by individual investors on Wednesday and Thursday, according to Samsung BioLogics.Another 60 percent has been offered to institutional investors over the same two-day period.The remaining 20 percent is being offered to Samsung BioLogics employees for one day on Wednesday, the firm said in a regulatory filing.The Samsung-affiliated biopharma company is expected to raise around 1.5 trillion in fresh capital through the IPO, and fund the continued expansion of its own business as well as that of its subsidiary Samsung Bioepis.Samsung BioLogics and Samsung Bioepis stand at the center of Samsung Group’s push into new, promising industries that could ensure the tech conglomerate’s sustained growth in the future.The former, founded in 2011, is a contract manufacturer of biologic drugs developed by global pharma companies.

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Samsung BioLogics Prices Nearly $2 Billion IPO at Top of Range

Samsung BioLogics Prices Nearly $2 Billion IPO at Top of Range

SEOUL—Samsung Group’s contract drug-manufacturing arm said Friday that it would price its initial public offering at the top end of its range, putting it on track to raise 2.250 trillion Korean won ($1.96 billion) in a debut early next month that would be one of the world’s largest this year.The deal would value Samsung BioLogics Co., which manufactures complex biologic drugs made from living cells on behalf of clients like…

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