[Asia Economy Reporter Lee Gwan-ju] Prestige Biologics announced on the 6th that the payment for a 60 billion KRW third-party allotment capital increase conducted with its group company Prestige Biopharma has been completed.
With the completion of this capital increase payment, the newly issued shares amount to 13,787,830 shares at an issue price of 4,342 KRW per share, all of which will be under lock-up for one year. Prestige Biopharma expanded its total shareholding from the previous 3% to 24.88% by acquiring additional shares of Prestige Biologics, becoming the largest shareholder and the controlling company.
Prestige Biologics plans to use the raised funds to improve its financial structure to enhance stability and strengthen sales activities for independent order acquisition, focusing on securing revenue. Additionally, by leveraging the controlling company's research and development and global marketing capabilities, it intends to smoothly and efficiently pioneer overseas sales channels.
The Prestige Biopharma group explained, "Through this establishment of governance, we have completed a full value chain covering the entire process from research and development to production of antibody drugs, biosimilars, and vaccines, equipping ourselves with the capabilities of a global comprehensive bio group."
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