Samsung Biologics reported a subscription rate of 96.8% for its capital increase of 2.665 trillion won (approximately $2.7 billion) aimed at financing the acquisition of Polypeptide Group. Major shareholders Samsung C&T and Samsung Electronics subscribed to their entire allocations.
On November 11, Samsung Biologics announced that it received subscriptions for 2,198,146 shares out of the planned 2,270,000 shares in the capital increase directed at employee stock ownership and existing shareholders.
By subscription type, the employee stock ownership association subscribed to 405,430 shares out of the 454,000 shares allocated to it, achieving a subscription rate of 89.3%. Shareholders holding subscription rights subscribed to 1,792,716 shares out of the 1,816,000 shares allocated, resulting in a subscription rate of 98.7%.
Samsung C&T received an allocation of 782,818 shares, while Samsung Electronics was allocated 567,503 shares, with both companies subscribing to their full allocations. According to Samsung Biologics, the excess subscriptions from existing shareholders exceeded 30,000 shares.
This capital increase will proceed through a public offering of any unsubscribed shares after the allocation to shareholders. Samsung Biologics plans to conduct a public offering for the remaining shares on December 12-13. If there are any remaining shares after the public offering, the underwriter will acquire them. The payment date for the shares is set for December 17, with the new shares expected to be listed on December 30.
Samsung Biologics plans to issue 2.27 million common shares at a fixed issuance price of 1,174,000 won per share, raising approximately 2.665 trillion won. The funds will be used for the acquisition of Polypeptide Group, a global contract development and manufacturing organization (CDMO) specializing in peptides.
In July, Samsung Biologics announced it would invest 1.46 billion Swiss francs (approximately 2.7 trillion won at the time of announcement) to acquire Polypeptide Group, marking the largest merger and acquisition in the domestic pharmaceutical and biotech sector.
The company aims to expand its contract development and manufacturing business into the peptide sector, following its existing capabilities in antibody drugs, messenger RNA (mRNA), and antibody-drug conjugates (ADCs). The recent tender offer for Polypeptide Group saw a response rate of 97.98% for the total shares. Samsung Biologics plans to secure 100% ownership through compulsory acquisition and other means.
* This article has been translated by AI.
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