SAMSUNG BIOLOGICS announced on the 16th that a total of 9,745,071 shares were subscribed during the public offering, which took place over two days on the 12th and 13th. The subscription deposit totaled 11.4407 trillion won. This marks the largest-ever rights offering to include a public offering following a shareholder allocation.
The public offering consisted of the remaining 71,854 shares after subscriptions by existing shareholders and the employee stock ownership association. Given that the issue price per new share was 1,174,000 won, a subscription deposit of approximately 160 million won was required to apply for the number of shares corresponding to the subscription ratio.
In the previous subscription period for existing shareholders and the employee stock ownership association, 2,198,146 shares were subscribed out of the total 2.27 million shares scheduled for issuance. The subscription rate was 96.8%. The public offering was conducted for the remaining shares, including oversubscribed shares. The total issuance volume was 2.27 million shares, raising 2.665 trillion won based on the finalized issue price.
The proceeds will be used to acquire securities of another company for the acquisition of the Polypeptide Group. SAMSUNG BIOLOGICS announced an acquisition agreement last July worth 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, the company will expand its CDMO business scope to include peptides, in addition to antibody drugs, messenger RNA (mRNA), and antibody-drug conjugates (ADCs).
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.
This rights offering was conducted through a shareholder allocation followed by a public offering of unsubscribed shares. The payment date for the subscription price is the 17th, and the new shares are scheduled to be listed on the 30th.
