1 Min Read
SEOUL, March 14 (Reuters) - South Korea's Celltrion Healthcare Co Ltd, the marketing affiliate of Celltrion Inc , plans an initial public offering (IPO) through which it will seek to raise up to 1 trillion won ($871 million), Korea Exchange said on Tuesday.
Celltrion Healthcare, which markets, sells and distributes Celltrion's biosimilar drugs - copies of biotech drugs - has been granted approval to list on the KOSDAQ, the bourse said in a statement.
The targeted amount is based on an indicative price range of 33,300 won to 41,000 won per share, the exchange said.
Celltrion Healthcare booked net profit of 122.9 billion won for 2016, on revenue of 757.7 billion won, Korea Exchange said.
UBS and Mirae Asset Daewoo will act as advisers for the IPO.
Celltrion Healthcare could not be reached for comment. ($1 = 1,148.6900 won) (Reporting by Joyce Lee; Editing by Christopher Cushing)