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Samsung Biologics to Raise $2.2 Billion for PolyPeptide Deal

Bloomberg Markets •
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Samsung Biologics Co. is seeking to raise about 3 trillion won ($2.2 billion) in a rights offering to fund its acquisition of Poly Peptide Group. Samsung Biologics will issue 2.27 million new common shares to existing investors at a preliminary price of 1.32 million won each, a 17% discount to Thursday’s closing price. Samsung Biologics shares plunged as much as 7.2% on Friday after the announcement.