Prestige BioPharma’s IPO lock-up partially releases Aug 4

KUALA LUMPUR, Aug 2 -- Prestige BioPharma Limited (PBP)’s IPO lock-up will be partially released on Aug 4.

PBP is the first Singapore based company to be listed on the Korea Composite Stock Price Index (KOSPI).

According to a statement, IPO process usually requires early investors and insiders to lock-up their stock for at least 180 days.

Amid this season of uncertainty, PBP’s major institutional shareholders shared their confidence in the company’s potential future growth.

One of the financial investors of PBP, Samsung Partners’ Chief Executive Officer, Deuk Yong Seong said: “We highly appreciate PBP’s company value and will invest with a long-term and we evaluated PBP’s biosimilars and First-in-Class pancreatic cancer treatment as a strong growth engine when we decided to invest in PBP, and our view is still the same.”

Samsung Partners and KB Securities’ investments have been made through the privateequity fund, ‘KB-SP Private Equity Fund IV’, and the fund’s end date is in November 2022. This fund is holding three per cent (1,805,705 KDR) of the share capital of PBP.

Meanwhile, PBP’s largest financial invester is ‘Octava Fund Limited (Octava)’. Octava and its related parties hold approximately 17.35 per cent (10,428,740 KDR) of the share capital of PBP.

Octava has been serving as PBP’s long-term strategic partner from the very beginning of the company.

More details at www.prestigebiopharma.com.

-- BERNAMA