Samsung Biologics announced a rights offering to raise an expected aggregate amount of KRW 3 trillion to fund investments in the company's three-dimensional, long-term growth strategy across capacity, portfolio, and geographic expansion.
The company plans to allocate approximately KRW 2.71 trillion of the offering proceeds toward the planned acquisition of PolyPeptide Group, with the remaining approximately KRW 290 billion designated for the expansion of Bio Campus II.
"Building on our position as a global top-tier CDMO, this capital raise sets the stage for our next phase of growth," said John Rim, President and CEO of Samsung Biologics. "We are confident that executing our three-dimensional growth strategy, including the acquisition of PolyPeptide Group and the expansion of Bio Campus II, will deepen our leadership and create lasting value for shareholders."d
The rights offering comprises approximately 2,270,000 new common shares at an offering price of KRW 1,322,000 per share, representing a discount of approximately 15% from the reference price. The total funds, estimated at KRW 3 trillion, represent approximately 4.90% of the company's market capitalization based on the previous trading day's closing price.
The offering will be made to existing shareholders on a pro-rata basis, followed by a general public offering of any unsubscribed shares. In accordance with Korea's Capital Markets Act, 20% of the new shares will be allocated to the company's employee stock ownership association, with the remainder offered to shareholders proportionally.