Samsung C&T shares rise after report of planned stake purchase in biopharma affiliate

10 Apr, 2018 8:32 am

SEOUL (Reuters) – Shares in Samsung C&T Corp rose 3.6 percent on Tuesday after a report said the company is considering raising up to 3 trillion won (1.98 billion pounds) to buy a 30 percent stake in biopharma affiliate Samsung Bioepis Co Ltd.

Samsung C&T has been contacting large financial institutions to raise the money, South Korean TV channel MBC reported , citing an unnamed person with knowledge of Samsung’s process.

Another affiliate, Samsung BioLogics Co Ltd, which owned 94.6 percent of Samsung Bioepis as of end-2017, saw its shares rise 6.8 percent in early trade.

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