Sam­sung eye­ing its first en­try into US stock mar­kets from next year

The China Post - - MARKETS -

South Korea’s dom­i­nant Sam­sung con­glom­er­ate will make its first en­try into U.S. stock mar­kets next year with the list­ing of a biotech­nol­ogy af­fil­i­ate, a com­pany of­fi­cial said Fri­day.

The list­ing of Sam­sung Bioepis on the Nas­daq Stock Mar­ket is aimed at se­cur­ing funds for in­vest­ment in the field of biosim­i­lars — a new breed of drugs that mimic the ef­fects of far more costly biologic drugs made from liv­ing cells.

“With an un­der­writer al­ready des­ig­nated, prepa­ra­tions are un­der way for the public stock list­ing of Bioepis in the first half of next year,” the Sam­sung of­fi­cial told AFP.

Bioepis will be the first Sam­sung af­fil­i­ate to list in the United States.

Sam­sung

Elec­tron­ics,

the world’s largest mo­bile phone maker which ac­counts for the lion’s share of the group’s sales and prof­its, con­trols 46 per­cent of Sam­sung Bi­o­Log­ics, which in turn holds 90 per­cent of Bioepis.

The Sam­sung group is al­ready re­mark­ably di­verse, with in­ter­ests rang­ing from elec­tron­ics to con­struc­tion and ship­build­ing, and sees biotech­nol­ogy as a rev­enue growth en­gine for the fu­ture.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.