BDI Acquires Treasury Shares as Largest Shareholder... "Confidence in Bio and Renewable Energy Business"

[Asia Economy Reporter Hyunseok Yoo] VIDI announced on the 13th that its largest shareholder and Acting CEO An Seungman exercised a call option on convertible bonds (CB) to acquire 1,009,344 shares of its own stock.

According to the disclosure, An Seungman, the largest shareholder, exercised the call option (put right) on the 6th series CB issued in May last year, acquiring a total of 1,009,344 shares of treasury stock. As a result, the number of shares held by Chairman An increased to 4,123,865 shares, reflecting additional adjustments such as the exercise price adjustment of the existing convertible bonds with warrants, raising his stake to 22.6%.

A VIDI official stated, "This acquisition of shares by the largest shareholder signifies confidence in the success of the newly entered bio business through the recent acquisition of Allison, a U.S.-based new drug development specialist, as well as externally demonstrating confidence in the growth potential of our core business in eco-friendly and renewable energy."

He added, "Through this acquisition of the largest shareholder's shares, we aim to alleviate market concerns about overhang (potential sell-off volume) and simultaneously strengthen management rights centered on Chairman An Seungman, expressing our commitment to responsible management."

VIDI officially entered the bio business on the 11th through the acquisition of Allison, a U.S. new drug development company. Allison currently holds four representative pipelines, including 'Glufosfamide,' the only pancreatic cancer single second-line treatment undergoing Phase 3 clinical trials approved by the FDA in the U.S., and 'ILC' (treatments for lung cancer and pediatric osteosarcoma) and 'DBD' (brain cancer treatment), both undergoing Phase 2 or higher clinical trials with the FDA.

Benefiting from the government's Green New Deal policy, VIDI also expects growth in its core eco-friendly and renewable energy business. It is currently processing permits mainly for wind power (92MW in Gampo, Gyeongju), solar power (20MW in Jeongseon, 40MW wind power), and fuel cells (13.7MW in Gunsan), with sequential construction planned to begin from next year.

This content was produced with the assistance of AI translation services.