Central Insight Completes Third-Party Allocation Rights Offering... "Securing Funds for New Business"

[Asia Economy Reporter Hyunseok Yoo] Central Insight announced on the 27th that the payment for a 14.5 billion KRW third-party allotment paid-in capital increase has been completed. Additionally, the largest shareholder has changed to AsheSeven, which participated in the capital increase.

AsheSeven, which secured the largest shareholder status of Central Insight, is a cosmeceutical specialized company selling peptide-based specialty raw material cosmetics. Based on a diverse product lineup, it plans to expand globally to countries such as China, the United States, and Japan. Through this capital increase, AsheSeven acquired a 16.31% stake in Central Insight, becoming the new owner.

Central Insight plans to maximize sales by raising large-scale funds, including a 14.5 billion KRW paid-in capital increase and 20 billion KRW convertible bonds, in collaboration with AsheSeven. This will support not only the existing specialty cosmetics business but also new bio business acquisitions. Furthermore, with the completion of the largest shareholder change and large-scale fund procurement, momentum is expected to build for new business initiatives.

In addition, Central Insight plans to focus on securing future growth engines through AsheSeven’s cosmetics business and new business initiatives. It is known to be considering entry into pharmaceutical bio business such as new drug development and cosmeceutical business combining cosmetics and bio.

A company official stated, “Through the extraordinary general meeting scheduled on the 27th, we plan to add business objectives such as bio and actively promote new businesses,” adding, “We will maximize synergy effects with AsheSeven, which has become the largest shareholder, not only in the cosmeceutical business but also in the promotion of new bio businesses.”