[Click eStock] "SK BioPharm Listing Approaches, SK Stock Price Rises"

Daishin Securities Issues 'Buy' Investment Opinion and Sets Target Price at 400,000 Won... Closing Price on 26th at 259,000 Won

[Asia Economy Reporter Kum Boryeong] As the listing schedule of SK Biopharm approaches, it is analyzed that SK's stock price is benefiting from it.

According to the Korea Exchange on the 27th, SK's closing price on the previous day was 259,000 won. It rose by 12,500 won (5.07%) compared to the previous session. Compared to 182,000 won on the 15th, it is a 42% increase in about 10 days.

The rise in SK's stock price appears to be a trend emerging as the listing schedule of its core bio affiliate, SK Biopharm, approaches. Yang Jihwan, a researcher at Daishin Securities, said, "Most investors were already aware of SK Biopharm's listing schedule, but the proportion of old shares sales and circulating shares at the time of listing were revealed through this disclosure. The total number of circulating shares of SK Biopharm is expected to be 19,578,000 shares, which is 25%, but the number of shares that will be circulated immediately after listing is only 3,915,000 shares, which is the amount for general subscription and accounts for only 5% of the total issued shares (78,313,000 shares). Therefore, we judge that the demand to invest in SK Biopharm after listing may concentrate on SK, which holds 75% of SK Biopharm's shares," he explained.

SK Biopharm is a company specializing in developing new drugs for central nervous system diseases. It is conducting clinical projects for a total of eight drugs. Among them, the sleep disorder treatment SUNOSI (Solriamfetol) completed commercialization in the U.S. last year, and its sales approval in Europe was granted in January this year. Researcher Yang said, "Daishin Securities estimates the new drug value of SUNOSI at about 505 billion won, and considering that the timing of European sales approval was earlier than expected, the possibility of an increase in the new drug value is high."

Daishin Securities gave SK a 'Buy' investment opinion with a target price of 400,000 won.