South Korea-based Samsung Biologics (KRX: 207940.KS) announced a rights offering to raise KRW 3 trillion (approximately USD 2.2 billion), with the bulk of proceeds earmarked to fund its pending acquisition of PolyPeptide Group and accelerate capacity expansion at its Songdo Bio Campus II —moves that would extend Samsung Biologics' manufacturing reach into peptide-based therapeutics and increase its global manufacturing capacity to 1.385 million liters by 2032.
The offering comprises approximately 2,270,000 new common shares priced at KRW 1,322,000 per share, a discount of approximately 15% from the reference price. The total raise represents approximately 4.90% of Samsung Biologics' market capitalization. Shares will be offered to existing shareholders on a pro-rata basis, with 20% allocated to the company's employee stock ownership association under Korea's Capital Markets Act. Any unsubscribed shares will proceed to a general public offering, with residual shares taken up by the lead underwriter. New shares are targeted for listing on November 30, 2026.
Approximately KRW 2.71 trillion of the proceeds will fund Samsung Biologics' all-cash tender offer to acquire PolyPeptide Group — announced in July 2026 at CHF 1.46 billion — a Switzerland-listed contract development and manufacturing organization (CDMO) specializing in peptide-based active pharmaceutical ingredients with six GMP-certified sites across Europe, the US, and India. The remaining KRW 290 billion is designated for Bio Campus II expansion, where Samsung Biologics plans to bring Plants 6 through 8 online sequentially following the 2025 completion of Plant 5.
The PolyPeptide acquisition gives Samsung Biologics a peptide manufacturing capability it currently lacks, positioning the company to capture growing outsourcing demand for peptide drugs, including the rapidly expanding GLP-1 obesity and diabetes market. It also broadens Samsung's service portfolio beyond its traditional antibody manufacturing base into a wider range of modalities, adding peptides alongside its existing mRNA and ADC capabilities.
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