[Featured Stock] HL Biopharma Rises as Chairman Jinyang Gon Participates in Rights Offering...
[Asia Economy Reporter Hyunseok Yoo] HL Biopharma is showing strong performance. It appears that the news of Chairman Jin Yang-gon participating in the rights offering has had an impact.
As of 10:39 AM on the 11th, HL Biopharma recorded 108,300 KRW, up 7.87% (7,900 KRW) compared to the previous trading day.
Reviewing HL Biopharma's amended securities registration statement on the 8th, it was stated that the largest shareholder, Chairman Jin Yang-gon, plans to subscribe to most of the 393,997 new shares allocated in the rights offering.
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Meanwhile, HL Biopharma announced in March that it decided on a rights offering worth 320 billion KRW through a shareholder allocation followed by a general public offering of unsubscribed shares. HL Biopharma plans to use the funds for success fees to be paid to Eleva shareholders from last year's merger, participation in the rights offering of Immunomic Therapeutics, and acquisition of global rights for Rivoceranib held by Advent Research Institute.
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