Samsung Electronics Invests in Samsung Biologics Rights Offering
Samsung Electronics will participate in a paid-in capital increase by Samsung Biologics, investing 666.2 billion won (about $500 million).Samsung Electronics disclosed on Oct. 29 that it held a board of directors meeting and resolved the agenda to acquire 567,503 common shares of Samsung Biologics.T
Samsung Electronics has announced its participation in a rights offering by Samsung Biologics, investing 666.2 billion won (approximately $500 million). The electronics giant informed shareholders on October 29 that it had approved the acquisition of 567,503 common shares of Samsung Biologics during a board of directors meeting. This investment signifies Samsung Electronics' role as an existing shareholder in a paid-in capital increase of roughly 3 trillion won undertaken by Samsung Biologics.
As of June's end, Samsung Electronics maintained the second-largest shareholding in Samsung Biologics, owning a 31.22% stake. The company plans to subscribe to the entirety of its allocated new shares. The deadline for payment of these shares is set for November 17. Samsung C&T, the largest shareholder with a 43.06% stake, also announced its decision to invest 919 billion won to purchase 782,818 shares of Samsung Biologics, based on the issue price per share disclosed by Samsung Biologics on October 1.
However, the investment amount is contingent on the final issue price, to be determined on November 5.
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