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Biz News Korea(Eng)
SG Private Equity hits jackpot with JW Life Science’s Kospi listing in July
- Collected
- 2016.04.26
- Distributed
- 2016.04.27
- Source
- Go Direct
According to investment bank industry sources on Sunday, the private equity fund SG-SK Pharma that SG Private Equity manages is likely to rake in 170 billion won ($148 million) from its investment on JW Life Science that is expected to be listed on the Kospi this summer. The SG-SK Pharma, created by Korea Finance Corporation’ investment, injected 91 billion won to hold 70 percent stakes in JW Life Science in 2013, and sold off 20 percent stakes to the infusion solution provider’s another major shareholder JW Holdings at 30 billion won in June last year. It also sold 7.5 percent JW Life Science shares to institutional investors through pre-initial public offering (IPO) at 18 billion won recently. Now JW Holdings, SG-SK Pharma and remaining shareholders own 50 percent, 42.5 percent and 7.5 percent stakes in JW Life Science, respectively.
The infusion solution manufacturer appointed KB Investment and Securities Co. as a main underwriter and plans to apply for a preliminary IPO review this week with an aim to be listed on the Kospi in July.
JW Life Science, the leader in local infusion solutions market, reported a net profit of 12.6 billion won and operating income of 18.7 billion won on sales of 126.0 billion won last year.
By Han Woo-ram
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]