NewG Lab Issues 9.2 Billion KRW Convertible Bonds to Subsidiary Company CEOs
[Asia Economy Reporter Hyunseok Yoo] NewG Lab announced on the 12th that it will issue convertible bonds (CB) worth 9.2 billion KRW.
The issuance targets are Jo Seong-su, CEO of Arije Yak, a pharmaceutical manufacturing company recently acquired by NewG Lab, and Noh Hyun-cheol, CEO of Hanwool TL, a cold chain specialist company.
A NewG Lab official explained, "CEOs Jo and Noh participated in this subscription to practice responsible management as members of NewG Lab, which is advancing as a comprehensive pharmaceutical company."
The CB to be issued this time has a 0% coupon rate, and the conversion price is 13,200 KRW. Upon conversion into shares, CEOs Jo and Noh will hold approximately 2.28% of NewG Lab's equity.
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Meanwhile, NewG Lab became capable of independently conducting everything from new drug research and development to production and transportation by acquiring Hanwool TL and Arije Yak in February. Through this, it is preparing to leap forward as a comprehensive pharmaceutical company.
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