Samsung Biologics Raises 3 Trillion Won for Global Expansion

Samsung Biologics is launching a rights offering to raise approximately 3 trillion won ($2.17 billion) to fund a long-term growth strategy. The company will issue 2.27 million new common shares at 1,322,000 won per share, a discount of 15% to 17% from the reference price.

Approximately 2.71 trillion won of the proceeds are designated for the all-cash acquisition of Switzerland-based PolyPeptide Group, valued at 1.46 billion Swiss francs ($1.8 billion). This move aims to expand the company's peptide-based therapeutics portfolio. The remaining 290 billion won will fund the expansion of Bio Campus II, which involves the sequential activation of Plants 6 through 8 to increase global manufacturing capacity to 1,385,000 liters by 2032.

President and CEO John Rim stated that the capital raise sets the stage for the company's next phase of growth. He expressed confidence that the acquisition and campus expansion will deepen the company's leadership and create value for shareholders. Existing shareholders may subscribe between November 9 and 10, with new shares expected to list on November 30.