SK Bioscience Surpasses 1 Trillion Won in Employee Stock Ownership Value

Stock Price Soars on Hopes for Korea's First Domestic COVID-19 Vaccine
Average Profit per Employee 1.8 Billion Won
One-Year Lock-Up After Listing...Transfer Allowed Upon Resignation

[Asia Economy Reporter Park Hyungsoo] As SK Bioscience's stock price has surged sharply since the beginning of this month, the value of shares held by the employee stock ownership association has exceeded 1 trillion won. At the time of SK Bioscience's IPO in March, the average unrealized gain per employee who received company shares was about 1.8 billion won. This rise in stock price is attributed to expectations surrounding SK Bioscience's self-developed COVID-19 vaccine.

According to the Financial Supervisory Service's electronic disclosure system on the 11th, as of the end of Q1 this year, the SK Bioscience employee stock ownership association holds 4,303,657 shares (5.63% stake). The closing price of SK Bioscience stock on the previous day was 301,500 won, making the value of shares held by the employee stock ownership association approximately 1.2976 trillion won.

On the previous day, SK Bioscience announced that the Ministry of Food and Drug Safety approved the Phase 3 clinical trial plan for the COVID-19 vaccine candidate 'GBP510.' The Phase 3 clinical trial will be conducted at 14 institutions, including Korea University Guro Hospital, targeting 4,000 adults aged 18 and over to evaluate the immunogenicity and safety of GBP510. SK Bioscience aims to analyze interim clinical results in Q1 next year, apply for product approval, and commercialize the vaccine within the first half of the year.

With growing anticipation for the first domestically developed COVID-19 vaccine, SK Bioscience's stock price closed at 301,500 won, up 29.7% from the previous day. Since its IPO at a public offering price of 65,000 won on March 18, the stock has risen 363.8% in just over four months.

As the stock price surged, the average unrealized gain per member of the SK Bioscience employee stock ownership association is estimated to reach 1.797 billion won. SK Bioscience allocated 4.59 million shares to the employee stock ownership association during its listing on the KOSPI market. Following the subscription, the association applied for 4.494 million shares. Based on the 591 employees listed in the prospectus, a simple calculation shows each employee received about 7,598 shares. The average subscription amount per person was approximately 493.87 million won. Most employees financed more than half of their subscription funds through loans, and within less than five months, the value of their holdings increased to 2.29 billion won. Since the shares allocated to the employee stock ownership association are subject to a mandatory one-year lock-up period, immediate profit realization is not possible. Shares can be sold upon resignation.

Some employees who participated in the employee stock ownership association resigned after SK Bioscience's listing. Immediately after subscription, the association held 4,549,450 shares, including 59,050 shares held before listing. As of the end of March, the association's holdings decreased by 246,000 shares.

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