Samsung BioLogics on Thursday said it has selected five advisers to lead its initial public offering process on Korea’s main bourse KOSPI.

They include a mix of Korean and foreign investment banks including Korea Investment Securities, NH Investment & Securities, Citigroup, J.P. Morgan and Credit Suisse.

Korea Investment Securities will represent the Korean investment banks while Citi will represent the foreign side, Samsung BioLogics said.

Samsung BioLogics has yet to announce the exact timing of its listing and the volume of the shares to be offered, though it plans to complete the IPO process within this year.

The industry estimates that at least 3 trillion won ($2.6 billion) worth of new shares will be issued through the offering and that its market valuation stands at around 10 trillion won.

Founded in 2011, Samsung BioLogics is a contract manufacturer of biologic drugs developed by global pharmaceutical companies.

It stands at the center of Samsung Group’s recent push into the biopharmaceuticals business, which is viewed as a lucrative industry to propel the conglomerate’s future growth.

By Sohn Ji-young (jys@heraldcorp.com)