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Biz News Korea(Eng)
Samsung BioLogics IPO draws tepid public interest amid political unrest
- Collected
- 2016.11.04
- Distributed
- 2016.11.07
- Source
- Go Direct
According to Korea Investment & Securities Co. leading this year’s biggest IPO, Samsung BioLogics drew 149,982,340 bids for 3,308,261 shares available to retail investors for a subscription rate of 45.34 to 1. The shares will go listed on the main Seoul bourse Nov.10.
The public response is lackluster when considering as many as 850 institutions bid 380 trillion won ($332.6 billion) worth for the shares in the bioengineering company during book-building. Over 17 trillion won worth came from offshore.
Due to overwhelming institutional response, the IPO was priced at the top price end of 136,000 won per share.
The public response to the fledgling Samsung entrant also was tepid when compared with other sister companies that recently went public. Cheil Industries that joined the market in 2014 drew 194.9:1 competition rate and Samsung SDS 134.2:1.
By Song Gwang-sup and Park Yun-gu
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]