Samsung Bioepis, which is set for partitioning from Samsung Biologics, reportedly emphasized again that there are "no plans for future duplicate listings" aimed not only at investors but also at internal employees.
According to the industry on the 25th, the management of Samsung Bioepis held an internal briefing on the 22nd, when the partitioning was announced, and reaffirmed internally that there are no plans for future listings.
Earlier, Kim Hyung-jun, the head of management support at Samsung Bioepis (vice president), also noted during a briefing related to the partitioning on the morning of the 22nd that "Samsung Bioepis is not currently considering a listing" and stated, "To alleviate concerns over shareholder value dilution due to duplicate listings, we plan not to pursue the listing of Samsung Bioepis for five years, which will be included in the articles of incorporation of the newly established corporation (Samsung Bioepis Holdings)."
Earlier, Samsung Biologics announced on the 22nd that it would completely separate its contract development and manufacturing (CDMO) business from its biosimilar business. This partitioning involves separating the management of subsidiaries and new investment sectors to establish 'Samsung Bioepis Holdings.' It is known to be a simple spin-off method, which does not raise concerns about shareholder value deterioration or investor conflicts of interest. Unlike physical partitioning, the financial authorities do not impose separate sanctions on spin-offs.
However, some raised suspicions that this spin-off is a prelude to future duplicate listings. Samsung Biologics announced its policy not to conduct duplicate listings of Samsung Bioepis within five years alongside the partitioning announcement, yet concerns have been raised that Samsung Bioepis may pursue an initial public offering (IPO) after five years.
Samsung Bioepis emphasizing to investors and employees that there are no plans for duplicate listings is interpreted as a measure to quell those concerns.
In the industry, the five-year period is considered merely a reflection of the review period that financial authorities impose on sub-companies of physical partitioning, and is deemed unrelated to the possibility of duplicate listings.