India, Aug. 28 -- Samsung Biologics Co.,Ltd. (207940.KS), a biopharmaceutical contract development and manufacturing organization (CDMO), announced a rights offering expected to raise about KRW 3 trillion to fund its expansion across manufacturing capacity, portfolio and geographic reach.
The company plans to use approximately KRW 2.71 trillion of the proceeds to finance the planned acquisition of PolyPeptide Group, while the remaining KRW 290 billion will be used to expand Bio Campus II.
Samsung Biologics had announced in July that it would acquire PolyPeptide Group for approximately KRW 2.71 trillion in an all-cash deal. The acquisition is expected to broaden Samsung Biologics' portfolio to include peptide-based therapeutics alongside a...