DEAL OF THE MONTH - July 2020



NAME:
SK Biopharmaceuticals IPO

LAW FIRMS: Bae Kim & Lee, Jipyong, Greenberg Traurig, Simpson Thacher

LAWYERS: 

Bae Kim & Lee – Eui Jong Chung, Hee Gang Shin, Jeong Hoon Lee, Seung Il Hong

Jipyong – Haeng Gyu Lee, Ki Il Ban, Tae Hyun Lee, Bernard Ham

JURISDICTION: South Korea

PRACTICE AREAS: Capital markets

INDUSTRY SECTORS: Pharmaceuticals and life sciences

SK Biopharmaceuticals’ latest IPO is our deal of the month for July.

Having raised more than $800 million, SK Biopharmaceuticals debuted on Kospi in early July. The deal has become the largest IPO in the Korean bourse history since the Celltrion Healthcare offering in 2017.  

Part of the SK Group, SK Biopharmaceuticals focuses on new drugs development, particularly on the central nervous system (CNS) disorders field. Its primary research institute is located in Gyeonggi Province and the company has liaison offices in both China and the US.

The IPO constituted 20% of the total shares and SK Holdings remains to be the largest shareholder with a 75% controlling stake.   

Aided by the pandemic, there has been a growing appetite for biotech companies on the market. As of the first week of August, the price of the pharmaceuticals has been doubled. Analysts expect the stock to join Kospi 200 index soon.