Shinhan Investment Corp. Completes Recovery of Investment in NASDAQ-Listed 'Alvotech'

Shinhan Investment Corp. announced on June 17 that it has successfully completed the recovery of its investment in Alvotech, a global biosimilar pharmaceutical company listed on the NASDAQ in the United States.

This investment achieved a stable return of 22%. Including previous investments, Shinhan Investment Corp. made a total of three investments in Alvotech, with cumulative investment amounting to 56.5 billion KRW and an average return of 42%. Alvotech is a global biosimilar pharmaceutical company that has recently launched blockbuster biosimilars for Humira and Stelara.

In April 2023, Shinhan Investment Corp. participated in a 10 billion KRW convertible bond investment in Alvotech through the "One Shinhan Global New Technology Investment Fund No. 6." After Shinhan Investment Corp.'s investment, Alvotech began full-scale product sales, achieving 7.1 times revenue growth and successfully turning EBITDA and operating profit into significant surpluses.

Since 2018, Shinhan Investment Corp. has acted as a long-term financial partner to Aztiq, Alvotech's parent company and a global pharmaceutical group, investing a total of 56.5 billion KRW across three occasions and achieving a comprehensive return of 42%.

In 2018, Shinhan Investment Corp. established a relationship with Alvotech by investing approximately 36.5 billion KRW in the then-unlisted company alongside Morgan Stanley and Oaktree, and recovered its investment three years later with a 45% return. In 2021, Shinhan Investment Corp. participated as the lead arranger and syndicate member in the M&A acquisition financing of Lotus, a Taiwan-listed affiliate of Alvotech, and also joined Alvotech's pre-IPO investment as the company was preparing for its NASDAQ listing in the same year. The company recovered its investment in 2024 with a high return of 52%. In addition, Shinhan Investment Corp. continued its strategic relationship even after the listing, successfully completing the recovery of this third investment.

Park Shinhwa, Head of Global Investment Banking at Shinhan Investment Corp., stated, "We will continue to serve as a financial partner to global companies and as a representative global equity investor from Korea through direct overseas coverage," adding, "We plan to identify differentiated investment opportunities in a variety of growth industries such as AI, SaaS, healthcare, and fintech."

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