Min&Ji Acquires Additional 10 Billion KRW Worth of BioEleven Shares

[Asia Economy Reporter Yoo Hyun-seok] Lifestyle platform company Min&Ji is strengthening its control as the largest shareholder by additionally acquiring shares through participation in a paid-in capital increase of its affiliate biotech company ‘BioEleven’ and is set to actively promote its biotech business.

Min&Ji held a board meeting on June 23 and announced that it resolved to participate in a third-party allotment paid-in capital increase of its affiliate BioEleven.

The new share issuance price for BioEleven’s paid-in capital increase is KRW 42,300 per share, with the planned number of shares to be issued being 236,406 common shares (approximately KRW 10 billion), all of which Min&Ji intends to acquire solely. Upon completion of the capital increase, Min&Ji’s stake in BioEleven will expand from the existing 29.11% (696,891 shares) to 35.48% (933,297 shares).

BioEleven is a biotech company that owns ‘Deushimone,’ a probiotic recognized individually by the Ministry of Food and Drug Safety with the largest domestic guaranteed bacterial count of 450 billion. Recently, it has been actively expanding into global health functional food markets such as China and Singapore.

Additionally, BioEleven is conducting related research and development for its biotech business, which combines IT and bio as future growth engines. A Min&Ji official stated, “This participation in the capital increase aims to enhance the corporate value of both companies through expanding BioEleven’s shares,” adding, “As the largest shareholder, we will take responsibility and provide multifaceted support for BioEleven’s corporate growth going forward.”