Cha Biotech's Largest Shareholder and Related Parties Increase Stake to 31.51%
[Asia Economy Reporter Seo So-jeong] Cha Biotech announced on the 14th that Seonggwang Medical Foundation and KH Green, special relations of the largest shareholder, purchased company shares on the market, resulting in a change in shareholding. The total volume of shares purchased on the market was 47,500 shares.
Accordingly, the shareholding ratio of Cha Biotech's largest shareholder and related parties increased from the previous 31.43% to 31.51%.
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Oh Sang-hoon, CEO of Cha Biotech, said, "The largest shareholder's purchase of shares on the market is an expression of confidence in the results of the pipelines currently operating at Cha Biotech," adding, "It also reflects the company's bright future value due to new businesses such as entry into the global pharmaceutical contract development and manufacturing organization (CDMO) business and additional pipelines to be pursued."
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