S.Korea's SK Biopharmaceuticals shares debut at double IPO price

SK Biopharmaceuticals Co

02/07/2020 01:00

SEOUL, July 2 (Reuters) - Shares of South Korean drugmaker
SK Biopharmaceuticals Co Ltd  326030.KS  debuted at double its
IPO price on Thursday, as the initial public offering market
gathers steam after the coronavirus pandemic stalled potential
listings.
    SK Biopharmaceuticals' shares opened at 98,000 won, valuing
the company at about 7.7 trillion won  ($6.41 billion). 
    The company, which became the first South Korean firm to
receive U.S. Food and Drug Administration approval for an
independently developed drug, priced its IPO last month at
49,000 won per share, the top of its indicative range.
 urn:newsml:reuters.com:*:nL4N2DW22I
    
($1 = 1,200.6800 won)

 (Reporting by Heekyong Yang and Joyce Lee
Editing by Shri Navaratnam)
 ((Heekyong.Yang@thomsonreuters.com; +82 2 6936 1470;))