LOTTE Biologics announced on the 26th that it will raise funds for the construction of its first factory at the Songdo Bio Campus through a paid-in capital increase of 3,231,000 common shares. This capital increase will be allocated to shareholders, with an issuance price of 65,000 won per share.
LOTTE Corporation will invest in 2,584,800 shares, accounting for 80% of the total. Of the approximately 210 billion won raised by LOTTE Biologics, LOTTE Corporation will bear about 168 billion won. LOTTE Corporation holds 80% equity in LOTTE Biologics, while Japan's Lotte Holdings owns 20%.
LOTTE Corporation noted that it is investing to maintain control over LOTTE Biologics and to enhance its business competitiveness.