In today’s briefing:
- Important Rule Changes in Block Deals Pre-Disclosure in Korea: Analyzing Trading Dynamics
- SK Biopharmaceuticals (326030 KS): Starts 2023 on Strong Note; Unveils New Mid to Long-Term Strategy
Important Rule Changes in Block Deals Pre-Disclosure in Korea: Analyzing Trading Dynamics
- Insiders holding more than 10% of SO must disclose block deals 30 days in advance if they plan to sell more than 1% of SO or an amount exceeding ₩5B.
- The trading window and pricing range for short positions, based on the assumption of deal-taking, will likely vary significantly as the timing of price reflection will see a drastic change.
- There is an increasing likelihood that major shareholders will accelerate their planned block deals and bring them to the market in abundance before October.
SK Biopharmaceuticals (326030 KS): Starts 2023 on Strong Note; Unveils New Mid to Long-Term Strategy
- In 1Q23, SK Biopharmaceuticals Co Ltd (326030 KS) recorded Xcopri U.S. revenue of KRW53.9B, up 70% YoY and 8% QoQ. Xcopri growth is expected to accelerate in US in H2.
- The company’s operating loss narrowed to KRW23B in 1Q23, recording the lowest level excluding the one-off sales, compared with operating loss of KRW45B in 4Q22 and KRW37B in 1Q22.
- The company is looking for Xcopri revenue of KRW300B in 2023. With stable cash generation and expansion into three new modalities, SKBP aims to become a $15B company by 2026.
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