[Market Focus] Samik Pharmaceutical Hits Upper Price Limit for Second Consecutive Day After Listing

As of 9:25 a.m. on October 28, Samik Pharmaceutical's share price on the KOSDAQ market was trading at 12,630 won, up 29.94% from the previous day's closing price. This marks the second consecutive day of strong performance, following a limit-up close on its first trading day.

Samik Pharmaceutical, which was listed on KOSDAQ on October 27 through a merger with Hana Financial No.28 SPAC, had a reference price of 7,480 won. The stock climbed to the upper price limit, closing at 9,720 won on its debut.

Founded in 1973, Samik Pharmaceutical has established its presence in the over-the-counter drug market by advancing the science of natural medicines. Its main products include the comprehensive cold medicine 'Maparam', motion sickness syrups 'Novomin Syrup' and 'Sobomin Syrup', and the infant nutritional supplement 'Kiddy'.

Last year, the company posted record-high sales of 55.9 billion won, the highest since its founding, and operating profit increased by 31.6% year-on-year to 3.7 billion won. As of the end of last year, the debt ratio stood at 23.8%.

According to Samik Pharmaceutical, the purpose of listing was to enhance the company's image by improving external creditworthiness and to expand production facilities by directly increasing capital. The company is developing the neuralgia (PHN) treatment 'SIKD1977', and it is reported that the proceeds from the public offering will be invested in this pipeline.

The largest shareholder of Samik Pharmaceutical is CEO Lee Chungwhan, who holds 27.97%, and the combined stake of special related parties, including founder and Chairman Lee Seyoung (14.92%), reaches 81.32%.