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Samsung Biologics to Raise KRW5.68 Billion via Shares Issuance; Shares Decline 6%

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Samsung Biologics (KRX:207940) plans to issue 2.27 million new common shares at a par value of 2,500 won per share through a general public offering of forfeited shares after shareholder allotment, bringing the total value of the allotment to 5.68 billion won.

Funds raised via the issuance will be used primarily to acquire securities issued by other corporations, with 294.8 billion won allocated for facility investment, according to a Friday filing with the Korea Exchange.

Shares of Samsung Biologics fell nearly 6% in recent trade.

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