Samsung BioLogics shares plunge after regulator says co breached accounting rules

Shares in Samsung BioLogics Co Ltd fell over 18 percent on Wednesday as South Korea`s watchdog Financial Supervisory Service provisionally decided it had breached accounting rules.

Shares in Samsung C&T Corp , which holds a 43 percent stake in drug contract manufacturer Samsung BioLogics, also fell more than 5 percent.

Samsung BioLogics said in a regulatory filing that it will prove it had engaged in proper accounting practices.

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