SINGAPORE--(BUSINESS WIRE)--Prestige BioPharma Limited (PBP)’s IPO lock-up will be partially released on August 4, 2021. PBP is the first Singapore based company to be listed on the Korea Composite Stock Price Index (KOSPI). 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 and the Sputnik COVID19 vaccine CMO business.
One of the financial investors of PBP, Samsung Partners’ CEO, Mr. Deuk Yong Seong commented, “we highly appreciate PBP’s company value and will invest with a long-term view” 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 3% (1,805,705 KDR) of the share capital of PBP.
PBP’s largest financial investor is ‘Octava Fund Limited (Octava)’. Octava and its related parties are holding approximately 17.35% (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.
Octava’s investment director, Mr. Tan Ting Yong commented, “Octava takes a long view on its investments in PBP. The current share price of PBP does not reflect the true potential of PBP. PBP’s recent venture into the COVID-19 vaccine production business will not just diversify its revenue streams but also help to save lives. Octava believes that there is substantial room for PBP share price to appreciate and has no plans to liquidate its holding of PBP shares when the lock-up restriction is lifted”.
