Samyang Biopharm Listed on KOSPI Following Physical Spin-off

Samyang Biopharm, the pharmaceutical and biotechnology subsidiary of Samyang Group, announced on the 24th that it has been listed on the Korea Exchange (KOSPI) market.

The number of listed shares is 7,435,870. This listing was carried out through a direct listing method following a physical spin-off from Samyang Holdings, the holding company of Samyang Group, on November 1. As a result, Samyang Holdings shareholders now own shares in both the existing and new entities in proportion to their original holdings, allowing the listing to proceed without a separate subscription process.

Aerial view of Samyang Discovery Center, Seongnam-si, Gyeonggi-do. Samyang Biopharm

Samyang Biopharm stated that, with this listing, its growth potential and technological capabilities can now be independently evaluated by the market. The company added that it has also enhanced its credibility with overseas partners and investors, and is now better positioned to secure funding for research and development (R&D) as well as global expansion.

Going forward, Samyang Biopharm plans to enhance its corporate value based on a specialty-focused portfolio, including biodegradable surgical sutures, gene delivery systems, and anticancer drugs.

The company succeeded in developing the first biodegradable surgical suture in Korea in 1993 and currently holds the number one global market share in suture yarn supply. It has also built an anticancer drug portfolio covering seven types of solid tumors and five types of hematologic cancers. Samyang Biopharm is also accelerating its entry into the aesthetic plastic surgery sector, a new business area.

Kim Kyungjin, CEO of Samyang Biopharm, said, "We will enhance our corporate value based on our competitive advantages and contribute to improving the overall valuation of the group."

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