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Celltrion Healthcare seeking up to 799.6B South Korean won in IPO

Celltrion Healthcare Co. Ltd. expects to raise up to 799.6 billion South Korean won in an IPO of 24,604,000 shares priced at between 32,500 won and 41,000 won, Reuters reported.

Celltrion Healthcare is a marketing affiliate of Celltrion Inc. and exclusively sells the company's biosimilar drugs. The IPO on the junior KOSDAQ market will help the company forge its sales networks abroad and diversify its product portfolio.

The IPO is expected to be priced by July 17, with UBS and Mirae Asset Daewoo acting as advisers.

As of June 6, US$1 was equivalent to 1,119.04 South Korean won.