Samsung biopharma unit mulling Nasdaq listing to raise about US$1.34b

[SEOUL] Samsung Bioepis Co Ltd, a biopharma development unit of Samsung Group, is considering listing on the Nasdaq to raise about 1.5 trillion won (S$1.82 billion) to fund biopharma product development, a Bioepis spokeswoman said on Monday.

Samsung Group will soon send proposals to investment banks before choosing advisors for the IPO, potentially during the first half of 2016, newspaper Korea Economic Daily reported earlier on Monday, citing an industry source and an investment banking source, all unnamed.

The market capitalisation of Samsung Bioepis is expected to be at least 8 trillion won, the Korea Economic Daily said citing the investment banking source.

REUTERS