SEOUL, March 17 (Yonhap) — South Korean vaccine maker SK Bioscience Co. is set to go public on the local bourse this week and will probably emerge as the top bio pick by investors amid the coronavirus pandemic, according to brokerage houses.
The offering price of SK Bioscience, the pharmaceutical unit of major conglomerate SK Group, was set at 65,000 won (US$57.47) per share for its market debut Thursday.
Brokerage houses predicted that the maker of AstraZeneca’s COVID-19 vaccines will jump upon its market debut, probably starting at the highest opening price of 130,000 won and finishing at its daily permissible ceiling of 169,000 won (US$149.43).
If so, the bio firm’s value would more than double from 4.9 trillion won to 12.9 trillion won.
Last week, SK Bioscience drew a record 64 trillion won in investor deposits during a two-day subscription period for its share sale.
The figure surpasses the two previous records set last year — 58.6 trillion won for gaming company Kakao Games and 58.4 trillion won for K-pop agency Big Hit Entertainment.