[Featured Stock] PBPharma Plummets on First Day of Listing

[Asia Economy Reporter Jang Hyowon] Prestige BioPharma (PBP Pharma) is experiencing a sharp decline on its first day of listing.

As of 9:13 AM on the 5th, PBP Pharma is trading at 25,050 KRW, down 13.02% from the opening price. This is a 21.72% decrease compared to the public offering price of 32,000 KRW.

Prestige BioPharma, established in 2015 and based in Singapore, is a pharmaceutical company developing biosimilars (biopharmaceutical generics) and antibody drugs.