SK Bioscience "Securing Funds Through IPO... Towards a Global Vaccine and Bio Company"

Utilization of Funds for Expanding CMO Contract Manufacturing Facilities and M&A

Ahn Jae-yong, CEO of SK Bioscience, is giving a greeting speech at the SK Bioscience KOSPI new listing ceremony held on the 18th at the Korea Exchange in Yeongdeungpo-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Seo So-jung] "By securing sustainable growth resources through listing, we will leap forward as a global vaccine and bio company based on innovative technology."

SK Bioscience (CEO Ahn Jae-yong) announced on the 18th that it has completed its new listing on the Korea Composite Stock Price Index (KOSPI) and held a commemorative ceremony at the Korea Exchange in Yeouido, Seoul.

The listing ceremony was attended by key executives and officials including SK Bioscience CEO Ahn Jae-yong, SK Discovery President Park Chan-jung, Korea Exchange Chairman Son Byung-doo, Korea Investment & Securities CEO Jung Il-moon, Mirae Asset Daewoo Vice Chairman Jo Woong-gi, and NH Investment & Securities Executive Director Yoon Byung-woon.

In his commemorative speech, CEO Ahn said, "We will reflect the valuable advice received during the listing preparation process in our management and lead it to good results," adding, "We will actively communicate with the market under the principles of transparency and trust by providing opportunities to review management status together with the market."

CEO Ahn expressed his aspirations, saying, "The history of SK Bioscience has opened a new page with this listing," and "I ask you to join us in the history of challenges and ambition that will be written going forward."

Prior to the listing, SK Bioscience confirmed the public offering price at 65,000 KRW through a demand forecast targeting domestic and foreign institutional investors. The demand forecast held on the 4th and 5th of this month saw participation from 1,464 institutions, recording the highest competition rate in KOSPI history at 1,275.47 to 1.

Subsequently, during the subscription for general investors on the 9th and 10th, more than 63 trillion KRW in deposits were gathered.

Through this listing, SK Bioscience plans to secure sustainable growth resources and leap forward as a global vaccine and bio company based on innovative technology.

▲ Expansion of research centers and production facilities for additional Contract Manufacturing Organization (CMO) business such as biopharmaceuticals ▲ Development of new pipelines including messenger ribonucleic acid (mRNA) platforms and immune enhancers ▲ Establishment of partnerships with foreign governments and state-owned institutions for technology cooperation ▲ Utilization of public offering funds for mergers and acquisitions (M&A) with overseas companies to enter the global market.

This content was produced with the assistance of AI translation services.