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[Apha Biz=(Chicago) Reporter Paul Lee] Korea Investment & Securities is expected to invest up to 200 billion won in the pre-IPO (financing before listing) of SK pharmteco, SK's pharmaceutical consignment development production (CDMO) subsidiary.
According to the investment banking (IB) industry on the 23rd, Korea Investment & Securities is considering participating as a major investor in the $500 million SK pharmteco investment fund created by Brain Asset Management.
The industry expects Korea Investment & Securities to invest between 100 billion won and 200 billion won, including funds secured from investment trusts.
Korea Investment & Securities plans to make a final decision as early as this month and start the payment process.
SK pharmteco is a 100% subsidiary established by SK as a global CDMO integration corporation in 2019. Existing synthetic drugs, cell and gene therapy drugs are mainly developed and produced.
The reason why Korea Financial Group is actively considering participating in the SK pharmteco Free IPO with its subsidiary Korea Investment & Securities is because it sees a high possibility of listing the company. According to SK, Palm Techo plans to list on the stock market within five years of attracting investment. The market is putting more weight on the possibility of listing on the New York stock market than on South Korea, citing the fact that SK Palm Techo's headquarters is in the U.S.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
