Samsung BioLogics shares plunge after regulator says co breached accounting rules

SEOUL (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.