Samsung BioLogics began pre-deal investor education in Seoul on Tuesday for a $1.7 billion to $2 billion initial public offering that will tempt investors with the prospect of a new behemoth and potential industry disrupter from one of the world’s most successful tech companies.
And they will need to believe in the company’s scalability and growth potential given the extremely aggressive valuation attached to the deal, which is being marketed at 96 times 2015 sales at the top end of the indicative price range. By contrast, Amazon went public in 1997 on a 29 times trailing multiple.
Samsung BioLogics represents Samsung Group’s...
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