Triplex International Biosciences, a medical diagnostic reagents and kits maker based in China, is set to become the first foreign bio company to be listed on secondary bourse KOSDAQ, according to news reports on Sept. 20.
The biomedical company is planning to submit an application for preliminary investigation at the Korea Exchange by the end of this year, aiming to be listed in the first quarter of 2017.
Established in 2004 in Fujian, Triplex posted over 60 billion won (US$53.69 million) revenue with 10 billion won net profit in 2015, supplying diagnosis kits and related products to over 2,000 medical facilities in China.
The industry estimates its market value to reach 500 billion won after going public. Its largest stakeholder is Think Best Technologies with 48.6 percent stake and South Korean private equity fund STIC Investment owns 7 percent stake, having invested 15 billion won in 2010.
The company owns 26 patents for inventions and 29 utility patents.
By Hwang You-mee (email@example.com