[Market Focus] Samyang Biopharm Hits Upper Price Limit on First Trading Day

Samyang Biopharm, the pharmaceutical and biotechnology subsidiary of Samyang Group, hit the upper price limit on its first day of trading on the Korea Exchange following a spin-off.

As of 10:50 a.m. on November 24, Samyang Biopharm was trading at 30,200 won, up 29.89% from its opening price.

This listing was carried out through a direct listing method after being spun off from Samyang Holdings, the holding company of Samyang Group. The total number of listed shares is 7,435,870.

As an independent corporation specializing in pharmaceutical and biotechnology businesses, Samyang Biopharm plans to strengthen its global competitiveness by focusing on high-performance bio products such as biodegradable surgical sutures, gene delivery systems, and anticancer drugs.