SpaceX IPO Sets Record With $75 Billion Raise, Valuation Hits $1.77 Trillion 
Hanmi Semicon Shares Surge After $33 Million SpaceX Investment 
Woodside Energy Acquires PetroChina’s Browse Stake, Expands Position in Major Australian Gas Project 
Wizz Air Beats Profit Forecast as Cost Controls Offset Industry Challenges 
GSK Reportedly Nears $9 Billion Acquisition of Cancer Drug Developer Nuvalent 
oOh!media Takeover Battle Intensifies as Bain Capital Joins Competing Bids 
Qualcomm Stock Gains After Jensen Huang Endorsement 
Meta Partners With Reliance to Launch First AI-Powered Data Center in India 
SpaceX IPO Demand Surges Past $250 Billion Ahead of Historic Market Debut 
EngineAI Files for Hong Kong IPO Amid Rising Demand for AI and Robotics Stocks 
Adobe Beats Q2 2026 Estimates, Raises Full-Year Outlook as AI Revenue Surges Despite Stock Drop 
Sigma Healthcare Shares Slide Amid Preliminary Boots Acquisition Talks 
Coupang Hit With Record $409 Million Fine Over Data Breach Affecting 33 Million Users 
Apple Unveils Enhanced Apple Intelligence and Next-Generation Siri at WWDC 2026 
Frasers Group Launches €2 Billion Hugo Boss Takeover Offer Amid Control Speculation 
OpenAI Files Confidential IPO Draft as AI Giants Race Toward Public Markets 
BHP Port Hedland Workers Back Strike Action Amid Pay Dispute 
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
