SK Bioscience’s’Tasang’ profits KRW 7.8 billion per employee (total)

4 executives’ stock option valuation gains from 6.1 billion to 12.2 billion won based on the public offering price

(Seoul = Yonhap News) Reporter Han Hye-won and Park Jin-hyung = SK Chemicals, the company’s employees and major shareholder, if SK Bioscience, which has offered a public offering on the 9th to 10th, increases its share price after listing.[285130]The value of its stake is also expected to jump significantly.

Looking at the investment prospects for SK Bioscience on the 10th, the total number of stock purchase claims (stock options) that the company paid to four executives, including CEO Ahn Jae-yong, was 546,000,270 shares.

Stock options are the right to buy specific stocks at a set price, and if the market price is higher than the strike price, you can profit by that amount.

The strike price of stock options granted to executives by SK Bioscience is 9,154 won per share.

The gain on the exercise of stock options, estimated based on the offering price (65,000 won), amounts to a total of 30.5 billion won. By each executive, it amounts to 6.1 billion won and as much as 12.2 billion won.

If the stock price exceeds the public offering price after listing, the stock option valuation gain will increase by that amount.

Their stock options are exercised from December 12th this year to December 11th, 2028.

If SK Biosciences succeeds in’Daesang’, whose initial price is 2x the public offering price of 130,000 won, and soaring to the upper limit of 169,000 won, their stock option valuation gains will inflate to 87.3 billion won. For each executive, the amount ranges from 17.5 billion won to 34.9 billion won.

Employees who received SK Bioscience’s stock ownership are also expected to receive considerable valuation gains.

In this public offering stock offer, 4.45 million shares were allocated to our stock shares. Of these, 99,000 shares were dealt with in real rights, and the number of shares subscribed to by members of employee stock ownership was 4.94 million.

The number of employees of this company is 827 (with a fixed term of 236), but according to the company, the number of members who actually participated in the subscription to employee stock ownership is known to be around 600.

Therefore, if you calculate it as 600, you will receive an average of 7,484 shares per person, and about 486.64 million won based on the public offering price.

If this is realized, the profit per share can be earned 104,000 won, and the valuation gain per employee stockholder is expected to reach an average of 780 million won.

However, the employee stocks issued this time cannot be sold for one year after listing.

Accordingly, last year, SK Biopharm[326030] There is also a prospect that there may be cases of resignation to realize profits immediately, as at the time of listing.

However, in the case of SK Biopharm, the number of employees was only 200, so the allocation size per employee stock was higher than that of SK Bioscience.

In addition, SK Biopharmaceuticals has been on an upper limit for three days in a row since listing, and the per capita valuation gain has once increased to close to 2 billion won based on its peak.

Considering the above, it is unlikely that the’a pile of resignations’ like SK Biopharm will be re-enacted at SK Bioscience.

Meanwhile, SK Chemicals, the major shareholder of SK Bioscience, is also expected to benefit from a share price hike.

SK Chemicals currently owns 60 million shares of SK Bioscience. Currently, the stake is 98.04%, but after the public offering, the stake decreases.

After the listing of SK Bioscience, if the stock price is 130,000 won, the equity value will increase to KRW 7.80 trillion, and if it rises to the upper limit of 169,000 won, it will increase to 1.1 trillion won.

SK Chemicals’ market capitalization based on the closing price of the day is KRW 3.25 trillion, which is less than the standard value of KRW 3,900 trillion in the public offering of SK Bioscience’s shares held by SK Chemicals.

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2021/03/10 20:44 sent