Aju Industry and Aju IB Investment Sell 3.3% Stake

Sustainable Growth and Rational Value Creation of the Company through Direct Fund Investment

[Asia Economy Reporter Kim Jong-hwa] Ajou Industries announced on the 26th that it sold 4 million shares of Ajou IB Investment through an off-hours block trade.

Ajou Industries has been continuously considering the sustainable growth of its affiliate Ajou IB Investment and decided to sell part of its shares to invest in the 'Life Science 4.0 Fund' that Ajou IB Investment is preparing.

Instead of maintaining its shareholding, the company aims to invest directly in the fund to create a reasonable value and stock price for the company. Through this share sale, Ajou Industries' stake in Ajou IB Investment changed from 66.8% to 63.5%.

Meanwhile, Ajou IB Investment entered the global market by opening a local office in Boston, USA, in 2013. In July last year, it established a local corporation, 'Solasta Ventures,' and in August opened a Silicon Valley branch to strengthen its overseas investment capabilities.

Starting with the 60 billion KRW 'Life Science Overseas Expansion Platform Fund' in 2013, it has formed and operated the 32 billion KRW 'Growth Healthcare Fund' and the 123 billion KRW 'Life Science 3.0 Venture Fund.' Among the 29 companies invested in so far, 15 have been listed on the NASDAQ in the United States.

This year, Ajou IB Investment plans to establish its fourth 'Life Science 4.0 Fund' with a scale of over 100 million USD.

An Ajou Industries official stated, "We hope that this share sale will serve as an opportunity for Ajou IB Investment to be reasonably evaluated in the market and to sustain growth," adding, "Additionally, we expect that the increase in circulating shares in the market will provide better investment opportunities for individual investors."