On October 28, biological drug and product manufacturer, Samsung BioLogics, successfully raised $2bn in what is the world’s largest healthcare sector IPO since Healthscope’s $2.1bn offering in 2014. The deal priced at the top of the range and is also South Korea’s largest IPO in 6 years.
As a trusted financial platform partner, Dealogic helped the bookrunners seamlessly execute the transaction through the DealManager network, who were also kept updated with real-time mobile access via Pulse.
Issuer: Samsung BioLogics
Nationality: South Korea
Deal Value ($m): 1,969
Deal Type: IPO
Bookrunners: Korea Investment & Securities, Citi, NH Investment & Securities, JPMorgan, and Credit Suisse
- World’s largest healthcare sector IPO since Healthscope raised $2.1bn in July 2014
- South Korea’s largest IPO since Samsung Life Insurance’s $4.4bn offering in April 2010; also the country’s third largest IPO on record
- Third largest IPO in Asia Pacific this year, following Postal Savings Bank of China ($7.6bn) and JR Kyushu ($4.0bn)
- Healthcare IPO volume of $12.1bn this year is down just 4% year-on-year, although more than half ($6.7bn) of issuance this year was priced in October alone
- South Korean ECM issuance has been the bright spot in Asia Pacific this year, with total ECM volume of $10.7bn up 17% year-on-year, compared to a wider regional decline of 11% over the same period
Top 3 global healthcare IPOs in 2016 YTD
- Samsung BioLogics, $2.0bn | South Korea | Oct 2016
- ConvaTec Group, $1.8bn | United Kingdom | Oct 2016
- China Resources Pharmaceutical Group, $1.8bn | Hong Kong | Oct 2016
Top 3 South Korean IPOs on record
- Samsung Life Insurance, $4.4bn | Insurance | Apr 2010
- Lotte Shopping, $3.7bn | Retail | Jan 2006
- Samsung BioLogics, $2.0bn | Healthcare | Oct 2016
For more information on why South Korea is Asia’s ECM bright spot, watch our video here.