Chalco Stock Surges as Q1 2025 Profit Forecast Jumps Up to 58% 
Bill Ackman Eyes New Fund to Bet Against Market Complacency 
Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses 
U.S. Automakers Push Back Against EU Rules Blocking American Trucks from European Market 
Foreign Investors Pour $18.65 Billion into Japanese Stocks Amid Market Stabilization 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
Lumentum Holdings Rides AI Wave With Order Book Filled Through 2028 
Chinese Brands Are Taking Over Brazil — And It's Just Getting Started 
Pilots Fear Retaliation for Refusing Middle East Flights Amid Ongoing Conflict 
TSMC Posts Strong Q1 2025 Revenue, Riding AI Chip Demand Wave 
Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth 
OpenAI Addresses Security Vulnerability in macOS App Certification Process 
Chinese Cars in Europe: Consumer Trust Is Shifting Fast 
China Vanke Seeks Bond Extension Amid Mounting Debt Crisis 
Anthropic Fights Pentagon Blacklisting in Dual Federal Court Battles 
China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs 
Orion Group purchased a controlling stake in LegoChem Biosciences, a South Korean research-based biotechnology company dedicated to discovering, developing, and commercializing innovative medicines. The confectionery company is acquiring a 25.7% stake worth KRW550 billion or around $418 million.
With the size of its acquisition, the Orion Group has now become the largest shareholder of LegoChem Biosciences. The firm made the deal as it seeks to broaden its business and enter into new drug development business beyond antibody-drug conjugate platform technology, as per the Korea Joongang Daily.
What is Included in the Agreement
Pan Orion Corporation, the Hong Kong-headquartered subsidiary of the Orion Group, led the acquisition deal. Based on the reports, the agreement includes a combination of share purchases and rights offerings.
Moreover, it was stated in the electronic disclosure of the Financial Supervisory Service that Orion will buy 7.96 million units of new stakes at KRW59,000 per share. In addition, it will also purchase 1.4 million existing shares at the base rate of 56,186 per share. Orion is scheduled to settle the payment for the acquisition on March 29.
Orion's Venture Into Biotech Business
The Korea Economic Daily reported that this buyout deal not only marks the Orion Group's deeper venture into the biotech industry but is also expected to help the company in achieving its goal of giving a boost to LegoChem Biosciences by providing the needed financial push for clinical development and encouraging new technology research.
Once the deal is completed, Orion will be the largest shareholder in LegoChem Biosciences. Currently, the company's chief executive officer, Kim Yong Zu, holds the biggest share, and after the acquisition, he will still retain some of his shares and keep his CEO position. LegoChem is also set to become one of the confectionery giant's affiliates.
Photo by: Orion Website
