[Market Focus] Samsung C&T Soars Over 7% as Major Shareholder on Samsung Biologics Spin-Off News

On May 22, Samsung C&T's stock price surged following news that its subsidiary, Samsung Biologics, is pursuing a corporate spin-off.

As of 9:30 a.m. on the same day, shares of Samsung C&T were trading at 149,100 won per share, up 7.27% from the previous session.

This surge is attributed to growing expectations that Samsung C&T's corporate value will increase, as the company is expected to horizontally control the newly established company following Samsung Biologics' decision to spin off. Samsung C&T is the largest shareholder of Samsung Biologics, holding a 43.1% stake.

Prior to the market opening, at 7:46 a.m. on the same day, Samsung Biologics announced that it would establish Samsung Bioepis Holdings (tentative name) through a simple and physical spin-off, thereby fully separating its biopharmaceutical CDMO (Contract Development and Manufacturing Organization) business from its biosimilar business. Samsung Biologics will focus solely on the biopharmaceutical CDMO business, while the newly established pure holding company, Samsung Bioepis Holdings, will later incorporate the biosimilar company Samsung Bioepis as a wholly owned subsidiary.