Forbes SK Group, one of South Korea’s massive, family-controlled businesses known as chaebol, is expected to list its vaccine making unit, SK Bioscience, on Thursday on the Korea Stock Exchange. SK Bioscience, which produces Covid-19 vaccines in Korea, could raise up to $1.33 billion, which would be the biggest Korea IPO since 2017.
“We have strengthened our leadership in the domestic market and built up our capacity to advance into the global market, while continuously pursuing a premium vaccine development strategy based on innovative technology,” an SK Group spokesperson said in an emailed statement.
The IPO of SK Bioscience is the latest push by Korean billionaire Chey Tae-won’s SK Group—which is known for its telecom, chemicals, memory chip and electric vehicle battery businesses—to expand into another hot market: Biotech.
Read Full Article Here…(forbes.com)
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