Singapore, Aug. 28 -- South Korea-based Samsung Biologics, a leading contract development and manufacturing organization (CDMO), has announced a rights offering to raise an expected aggregate amount of KRW 3 trillion (approx $2 billion) to fund investments in the company's three-dimensional, long-term growth strategy across capacity, portfolio, and geographic expansion.

The company plans to allocate approximately KRW 2.71 trillion of the offering proceeds toward the planned acquisition of PolyPeptide Group, with the remaining approximately KRW 290 billion designated for the expansion of Bio Campus II.

In July, Samsung Biologics announced an all-cash offer to acquire PolyPeptide Group for CHF 1.46 billion (approximately KRW 2.71 trillion...