S Korean drug firm SK Bioscience targets IPO in first half of 2021

South Korean drug company SK Bioscience aims to seek a domestic stock market listing in the first half of next year, it said on Friday.

The plan follows successful initial public offerings (IPOs) by its affiliate SK Biopharmaceuticals and other companies, such as Kakao Games, which attracted huge interest from Korean retail investors seeking higher returns in the face of near-zero interest rates.

SK Bioscience, which is 98% owned by SK Chemical, said its board has approved the potential IPO and it has hired NH Investment & Securities as lead manager.

The company said the share sale will enable it to respond to the rapidly changing environment, such as the spread of COVID-19, and enhance shareholder value through continued investment and technological innovation.

SK Bioscience this week received regulatory approval to begin human clinical trials of its COVID-19 experimental vaccine, having agreed in July to manufacture AstraZeneca’s experimental vaccine to help the British company build global supplies.

The agreement was followed by another deal to manufacture a component of U.S. drug developer Novavax Inc’s experimental COVID-19 vaccine.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.