Samsung BioLogics passes preliminary IPO screening

[THE INVESTOR]  Samsung BioLogics passed the preliminary approval for its planned IPO on the Korean stock exchange within the year, according to operators of Korea’s main bourse on Sept.29.

Due to the firm’s affiliation with Samsung Group, and the fact that it is expected to raise up to 3 trillion won (US$2.70 billion) of funds, the upcoming IPO of Samsung Biologics has attracted much attention from investors here.

The firm was established in April 2011. It is the largest contract manufacturer of biologic drugs in Korea, and is the world’s third-largest in terms of production capacity -- following rivals Lonza and Boehringer Ingelheim. 

Samsung C&T has a 52.1 percent stake in Samsung BioLogics, while Samsung Electronics holds the remaining 47.8 percent.

As of the first half of this year, Samsung BioLogic’s sales stood at 136.3 billion won, with a net deficit of 75.8 billion won.

By Kim Ji-hyun (jemmie@heraldcorp.com)