Gov't to announce verdict of Samsung BioLogics accounting irregularities
- 5 years ago
South Korea's Securities and Futures Commission is to announce its final decision on Wednesday on the alleged accounting irregularities by Samsung BioLogics, the biopharmaceutical business arm of Samsung Group.
Samsung BioLogics is suspected of breaching accounting standards to inflate its net profit ahead of going public in 2015.
If it's found the company had intentionally inflated its profits... the trading of Samsung BioLogics shares on the country's benchmark KOSPI... worth a combined 4-point-4-billion U.S. dollars... could be discontinued and subject to punitive examination for delisting.
The verdict is expected to affect some 80-thousand minority shareholders.
Samsung BioLogics is suspected of breaching accounting standards to inflate its net profit ahead of going public in 2015.
If it's found the company had intentionally inflated its profits... the trading of Samsung BioLogics shares on the country's benchmark KOSPI... worth a combined 4-point-4-billion U.S. dollars... could be discontinued and subject to punitive examination for delisting.
The verdict is expected to affect some 80-thousand minority shareholders.