Lotte World Tower (Photo = Lotte Holdings)

 

 

[Alpha Biz= Kim Jisun] Lotte Biologics announced on the 26th that it will raise capital by issuing 3.23 million common shares through a rights offering to fund the construction of its first factory at the Songdo Bio Campus.


The issuance price is set at 65,000 won per share, and the shares will be allocated to existing shareholders. Lotte Holdings, which holds an 80% stake in Lotte Biologics, will contribute to 80% of the total offering, or 2.58 million shares.


Lotte Holdings will bear about 1.68 trillion won of the total 2.1 trillion won raised through the capital increase.


Lotte Holdings stated, "This investment is aimed at maintaining control over Lotte Biologics and enhancing its business competitiveness."


The payment for the capital increase will be made in two installments, on April 7 and May 12.


Lotte Holdings owns 80% of Lotte Biologics, while Lotte Holdings Japan holds 20%.

 

 

 

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