November 23, 2024
Deals
Mirae Asset makes $22m earnings from BioNTech investment
Mirae Asset Financial Group said on April 16 it has sold Nasdaq-listed German drugmaker BioNTech for $37 million, earning a hefty profit from its previous investment of $15 million.
The German company is known to hold one of the three mRNA-based substance that is currently a candidate for COVID-19 vaccines.
Three months after making its deal, the phara firm went to public on Nasdaq through the American Depository Receipt -- the way of making hard-to-trade foreign stocks available to investors in the United States.
The German company is known to hold one of the three mRNA-based substance that is currently a candidate for COVID-19 vaccines.
Three months after making its deal, the phara firm went to public on Nasdaq through the American Depository Receipt -- the way of making hard-to-trade foreign stocks available to investors in the United States.
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After fulfilling safeguard deposit at the end of this month, Mirae Asset will realize nearly a 2.5 times of profit from its previous investment.
The BioNTech deal is the first retrieval from Mirae Asset-Naver Asia Growth Fund, which was launched in June 2018. Its overseas affiliate firms also invested together for the investment.
By Jie Ye-eun (yeeun@heraldcorp.com)
