[Asia Economy Reporter Minwoo Lee] Wooridle Hubrain's stock price is on the rise. The stock price of Aprogen, a bio new drug developer pursuing a listing on the US Nasdaq, surged, highlighting the fact that Wooridle Hubrain holds convertible bonds of AprogenKIC.
As of 10:42 AM on the 15th, Wooridle Hubrain's stock price recorded 2,540 KRW, up 5.18% from the previous day. The surge in stock prices of Aprogen affiliates such as AprogenKIC appears to have acted as a positive factor.
According to the industry, Aprogen, a bio new drug development company, has been reviewing overseas initial public offerings (IPO) since signing a comprehensive advisory contract with Nomura Securities in November last year. It is known that the US Nasdaq listing is the primary target, with Japan and Singapore also being considered. Following this news, and after Coupang's recent Nasdaq listing, expectations for Aprogen's Nasdaq listing have increased, leading to a sharp rise in its stock price.
This impact is interpreted to have extended to Wooridle Hubrain as well. Earlier, in October last year, Wooridle Hubrain disclosed that it had acquired convertible bonds of AprogenKIC's 23rd series, anonymous, interest-bearing, unsecured private convertible bonds totaling 30 billion KRW in cash. This amount corresponds to 45.79% of its equity capital.
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