HLB Decides to Absorb and Merge HLB Saengmyeong Science

HLB announced on the 1st that it has decided to merge with HLB Life Science through an absorption-type merger. The surviving company will be HLB, and the absorbed company, HLB Life Science, will be dissolved. The merger ratio between the merging company and the absorbed company is 1 to 0.1167458, and the number of new shares issued for the merger is 11,806,507.

The merger date is set for August 1. The company explained the purpose of the merger as “maximizing human and technological synergy through management efficiency by simplifying the governance structure and integrating new drug development and healthcare businesses.”