Celltrion Holdings pushing for listing on Nasdaq: sources

An exterior view of Celltrion’s second factory in Incheon / Courtesy of Celltrion

Celltrion Holdings, the parent company of major Korean pharmaceutical company Celltrion, is pushing for a listing on the Nasdaq stock exchange, industry sources said Monday.

Celltrion Holdings' Chairman Seo Jung-jin announced the company's initial public offering (IPO) plan during an event hosted by the Federation of Korean Industries a day earlier, according to the sources.

Seo said the company will push for an IPO on the tech-heavy Nasdaq around the end of this year at the earliest, but company officials did not elaborate.

The move comes as part of Celltrion's long-term plan to achieve annual sales of 12 trillion won ($9.08 billion) by 2030 and become a big global industry player.

To reach the target, Celltrion integrated with its sales affiliate Celltrion Healthcare last year and plans to push for an additional merger with its chemical drug-producing affiliate Celltrion Pharm later this year. (Yonhap)