May 2, 2018 / 12:20 AM / in 4 months

Samsung BioLogics shares plunge after regulator says co breached accounting rules

SEOUL, May 2 (Reuters) - 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. (Reporting by Joyce Lee; Editing by Stephen Coates)

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