SAMSUNG BIOLOGICS announced on the 11th that a total of 2,198,146 shares were subscribed during the rights offering for existing shareholders and the employee stock ownership association, which took place on the 9th and 10th.
This rights offering will be conducted through a shareholder allocation followed by a public offering of unsubscribed shares, involving the issuance of 2.27 million common shares. The final issue price is set at 1,174,000 won per share, and the company plans to raise a total of 2.665 trillion won. The proceeds will be used to acquire securities of another company necessary for the acquisition of Polypeptide Group, a global contract development and manufacturing organization (CDMO) specializing in peptides.
By subscription type, the Employee Stock Ownership Association subscribed for 405,430 shares out of the 454,000 shares allocated to it, recording a subscription rate of 89.3%. Shareholders holding warrants subscribed for 1,792,716 shares—including oversubscribed shares—out of the 1,816,000 shares allocated to them. The subscription rate was 98.7%.
Major shareholders SAMSUNG C&T CORPORATION and SamsungElectronics also subscribed for their entire allocated shares following board resolutions. The number of shares subscribed was 782,818 for SAMSUNG C&T CORPORATION and 567,503 for SamsungElectronics.
Despite an issue price exceeding 1 million won per share and ongoing domestic and international uncertainties, oversubscriptions of 30,000 shares or more were also received. The company explained that this subscription process confirmed shareholders’ trust in its growth strategy and their willingness to participate.
SAMSUNG BIOLOGICS announced last July that it would acquire the Polypeptide Group for 1.46 billion Swiss francs (approximately 2.7 trillion won). This marks the largest merger and acquisition (M&A) deal in the history of South Korea’s pharmaceutical and biotech industry. Once the acquisition is finalized, SAMSUNG BIOLOGICS will expand its business scope to include peptides, in addition to its existing portfolios of antibody drugs, messenger RNA (mRNA), and antibody-drug conjugates (ADCs). The company plans to diversify its business portfolio and secure mid- to long-term growth momentum through this move.
In the recently completed tender offer, 97.98% of Polypeptide Group’s shares were tendered. SAMSUNG BIOLOGICS plans to secure 100% ownership through compulsory purchase procedures and other measures.
The public offering for unsubscribed shares will take place on the 12th and 13th. Following the payment of subscription funds on the 17th, the new shares are scheduled to be listed on the 30th. If any remaining shares remain after the public offering, the lead underwriter will purchase them.
