Samsung Biologics Korea IPO may move ahead with potential delay of Samsung Bioepis US listing – sources

Risk aversion against biotech companies on Nasdaq could push back a KRW 2bn (USD 1.7bn) initial public offering of Samsung Bioepis, initially slated for the first half of 2016, sources said.

The parent Samsung Group is likely to instead push forward a domestic listing of the conglomerate’s Samsung Biologics, which partly owns Samsung Bioepis, a domestic industry source said.

Samsung Bioepis has been working on a valuation with its latest financial numbers, after lining up Simpson Thacher & Bartlett, Paul Hastings, Lee & Ko, and Kim & Chang as its legal advisors. It is monitoring market conditions to determine the timing for a share sale, two sources familiar with the situation said.