SK Holdings, the holding company of the nation’s third-largest conglomerate, held a board meeting last month to push for the market listing of its drug unit, according to industry sources Thursday.
With the board’s approval, SK Biopharmaceuticals is expected to apply for preliminary approval from the stock exchange soon, they added.
In April, the drug unit named NH Investment and Securities to lead the initial public offering of the company and Korea Investment and Security as a joint manager.
The company is likely to make the market debut sometime after late November, local analysts say. It is waiting for the US Food and Drug Administration’s approval for sales of Cenobamate, an anti-epilepsy drug, in the US.
The estimated value of SK Biopharmaceuticals stands around 5 trillion won ($4.15 billion), according to local brokerage houses.
By Cho Chung-un (email@example.com)