Celtrion Group Merger Process Materializes... Mirae Asset Securities Selected as Lead Manager

It has been reported that Celltrion Group has officially entered the merger process by selecting a lead manager for the merger.

Incheon Songdo Celltrion Plant 2 Overview. / Incheon - Photo by Hyunmin Kim kimhyun81@

According to industry sources on the 12th, Celltrion Group has selected Mirae Asset Securities as the lead manager for the merger of its listed affiliates Celltrion, Celltrion Healthcare, and Celltrion Pharm. However, specific details such as the merger schedule have not yet been disclosed.

Previously, in September 2020, Celltrion Group announced plans to merge the so-called "Celltrion 3 siblings" ? Celltrion, Celltrion Healthcare, and Celltrion Pharm. However, the merger of the three companies, which was expected to be completed as early as 2021, was delayed due to accounting issues and other complications.

This merger push is interpreted as reflecting the intentions of Chairman Seo Jung-jin of Celltrion. Chairman Seo, who declared his return to the front lines of management in March, has consistently expressed his will to merge the three companies. At a press conference held on March 29, he announced plans to complete the merger quickly under the condition that the financial market stabilizes. At that time, Chairman Seo said, "Preparations are almost complete. The key is financial market stability," adding, "If the financial market stabilizes and it is deemed appropriate to proceed with the merger, we will set a milestone and complete the merger within four months."

As news that Celltrion Group's merger process has intensifiedspread, the stock prices of the three Celltrion Group companies closed higher across the board. On that day, Celltrion closed at 152,500 KRW, up 4.02% (5,900 KRW) from the previous trading day. Celltrion Healthcare rose 5.69% (3,500 KRW) to 65,000 KRW, and Celltrion Pharm closed at 79,900 KRW, up 13.98% (9,800 KRW).

Meanwhile, the Korea Exchange requested a disclosure inquiry from Celltrion following the related reports. The deadline for the disclosure is by noon on the 13th.

This content was produced with the assistance of AI translation services.