The schedule for the spin-off of Samsung Biologics has been delayed due to the prolonged review process for its relisting by the Korea Exchange.
Samsung Biologics announced on the 22nd that it has corrected its report on major matters and changed the date of the shareholders' meeting for the approval of the partitioning plan to Oct. 17. This is about a month later than the previously scheduled date of Sept. 16.
Samsung Biologics submitted a review request for relisting for the spin-off, but the decision has been delayed by about a month. As a result, the securities registration statement that was originally due on the 29th of last month has also been submitted on the 22nd, causing the schedule to be somewhat delayed.
As the shareholders' meeting has been postponed, the founding date of Samsung Bioepis Holdings has also changed from the original date of Oct. 1 to November. Since the partitioning date, Nov. 1, is a holiday, the actual establishment date is expected to be Nov. 3.
Samsung Biologics announced a spin-off plan for its subsidiary, Samsung Bioepis, in May. This structure, where Samsung Biologics, which operates contract development and manufacturing organizations (CDMO), has a subsidiary involved in new drug development, Samsung Bioepis, may raise concerns about conflicts of interest for clients, leading to the need to eliminate those concerns.