What is Samsung BioLogics
Samsung BioLogics was established in April 2011. Headquarter of the Corp. is in Incheon, South Korea. It is a joint venture between Samsung affiliate companies and Quintiles Transnational Corp., a U.S. based company. It aims to be the global leader in the biopharmaceutical manufacturing industry. Consequently, Samsung BioLogics goes public which is a part of the company’s vision.
It is going public through IPO. Moreover, The company is raising $2 billion (2.25 trillion won). BioLogics will get the money from a South Korean IPO (initial public offering).The raising of the fund will help the corporation to meet its goal. As a matter of fact, its goal is to be the world’s largest contract manufacturer of biological medicines.
Samsung BioLogics will offer roughly 16.5 million shares. The company tells it did not set the share price yet. However, first, it will scale the demand for the share sale from October 26, 27. Then, it will announce the price on 28th October.
Samsung says in its filing, “Samsung Biologics will use the proceeds to expand our manufacturing capacity and to further invest in research and development…” It further informs, “The proceeds will… improve our financial structure.”
What are the companies to manage the IPO
Lead managers for IPO are, Korea Investment & Securities Co. and Citigroup Inc. Additionally, Investment & Securities Co., JP Morgan Chase & Co., and Credit Suisse Groups AG are orchestrating it.
Samsung C&T Corp. and Samsung Electronics Co. own the lion’s share of Samsung BioLogics Corp.
Samsung Electronics which manufactures Galaxy mobile phones aims to sell 5.5 million BioLogics shares in the IPO. At present, Samsung Electronics is having a hard race with Apple Inc. Thence, successful fund-raise will be a significant abatement.