Samsung BioLogics Aims to Raise Up to $2.5 Billion From IPO
#Samsung #BioLogics Co., the contract drug-manufacturing unit of South Korean conglomerate Samsung Group, is planning to raise as much as $2.5 billion from an initial public offering that would value it at roughly $10 billion, according to people familiar with the matter. The company, which makes biologic drugs on behalf of clients like Bristol-Myers Squibb Co. and Roche Holding AG , expects to file this week for approval to list shares in South Korea, one of the people said. It expects to complete the share offering in the fourth quarter of this year, the person said. Samsung BioLogics is expected to offer between 10% and 25% of its shares to the public based on South Korean listing requirements and investor demand, meaning the company would raise between $1 billion and $2.5 billion, one of the people said.