Samsung Biologics, in which Samsung Electronics owns a 40% stake, is issuing additional asset shares. Samsung Electronics decided to participate in Samsung Biologics’ rights offerings, which are aimed at investing in the new joint venture, in proportion to its stake in Samsung Biologics.
2. Details of Transaction:
Samsung Electronics plans to invest a total of KRW301 billion by participating in the
four rounds of rights offerings to be held by Samsung Biologics.
1) 1st Authorization : February 2014, KRW 84.7 billion
2) 2nd Authorization : August 2014, KRW 82.7 billion
3) 3rd Authorization : February 2015, KRW 66.7 billion
4) 4th Authorization : August 2015, KRW 66.9 billion
※ Samsung Electronics’ past investments in Samsung Biologics includes:
- Initial investment to establish joint venture : KRW 30 billion (April, 2011)
- Purchase of additional shares : KRW 90 billion (July, 2011)/
KRW 124.9 billion (February, 2012)
- Total assets owned : KRW 545.7 billion (including additional investments)
The BOD’s decision was made with three Executive Directors and Four Independent
* This public disclosure is in accordance with the Financial Investment Services and Capital Markets Act (Article 200-1), which mandates major shareholder of a stock-listed corporation to report matters concerning the current status of specific securities, etc. owned by type and changes therein.
January 24, 2014
Purchase of Additional Shares of Samsung Biologics
On 24 January 2014, the Board of Directors of Samsung Electronics authorized the following investments in Samsung Biologics.