When South Korea’s Samsung BioLogics announced its plan to list in the domestic market, it offered investors a deal that on the surface looked like an unappealing proposition.
It was not the long-established corporate titan that Korean investors are used to. In fact, it had been operating less than six years. It had less than $30 million of cash last year. Perhaps most importantly, it was unprofitable until 2015, when it turned in an extremely thin profit of $810,000 for the entire year.
But on Friday, Samung BioLogics priced the country’s third largest initial public offering in history, raising W2.2 trillion $2 billion from...
¬ Haymarket Media Limited. All rights reserved.
