Samsung BioLogics Plans IPO on Korean Stock ExchangeBy
Samsung BioLogics has planned an initial public offering (IPO) on the Korea Composite Stock Price Index (KOSPI) this year, following a resolution at its board of directors. The company will select lead managers for the IPO in September 2016 to decide on the timing of the listing and the volume of shares to be offered.
Samsung BioLogics is investing a total of KRW 850 billion ($776 million) in building its third biopharmaceutical manufacturing plant in the Incheon Free Economic Zone in Songdo, Korea. The plant is expected to be completed in 2017, with operations scheduled to begin in the fourth quarter of 2018 after validation. The plant will have a capacity of 180,000 liters. Once this third plant is in operation in 2018, Samsung BioLogics is expected to have a total production capacity of 360,000 liters.
Source: Samsung BioLogics