[Bio Shaking the Market] ③ Aprogen, Value of Shares Held by Chairman Kim Jaeseop

[Asia Economy Reporter Park Hyungsoo] The value of shares held by Kim Jaeseop, CEO of Aprogen, the 11th unicorn company in Korea, amounts to hundreds of billions of won.

According to the Financial Supervisory Service on the 7th, as of September 30 last year, the largest shareholder of Aprogen is CEO Kim Jaeseop. CEO Kim holds 7.72% (3,994,524 shares) of Aprogen's shares. Additionally, through Gbase, in which he holds 100% ownership, CEO Kim secured 31.35% (16,214,818 shares) of Aprogen's shares.

Considering Aprogen's corporate value at the unicorn standard of 1 trillion won, the value of shares secured by CEO Kim is at least about 400 billion won. Based on the conversion price of 34,031 won, which Lindeman Asia Investment used when acquiring Aprogen convertible bonds, the value of CEO Kim's shares exceeds 670 billion won.

Moreover, Gbase holds 33.77% (51,133,156 shares) of Aprogen KIC, a company listed on the KOSPI market. Based on the closing price of 2,975 won on the 6th, this amounts to approximately 152.1 billion won. The value of shares held directly and indirectly by CEO Kim is comparable to that of Chairman Ham Youngjun of Ottogi (530.4 billion won), Chairman Jung Jiwan of Soulbrain (529.3 billion won), and General Manager Jung Yookyung of Shinsegae (518.0 billion won).

Since Aprogen has not yet been listed on the domestic stock market, direct comparison is not possible, but Aprogen is considering a merger with Aprogen KIC. Given that Aprogen promised to pursue listing when receiving external investment, it is expected to be listed in the near future.