Kukjeon Pharm Increases Capital to Strengthen Investment in Production Facilities and R&D

[Asia Economy Reporter Hyungsoo Park] Kukjeon Pharm, a manufacturer specializing in active pharmaceutical ingredients, announced on the 2nd that it will conduct a paid-in capital increase worth 50 billion KRW to secure funds for investment in production facilities and strengthening research and development.

The funds raised through the capital increase will be used for ▲ advancing the follow-up business of the oral dementia treatment licensed (L/I) from Shaperon ▲ expanding production facilities for active pharmaceutical ingredients and electronic materials, and strengthening research and development.

Hong Jongho, CEO of Kukjeon Pharm, explained, "Kukjeon Pharm, which was listed last December, is faithfully implementing plans for mid- to long-term growth," adding, "Along with the active pharmaceutical ingredients business, the electronic materials business, which has recently shown remarkable progress, is also advancing significantly."

He continued, "To realize sales, it is essential to expand the production facilities and both the quality and quantity of research and development in each business area," and said, "The expansion of business through investment will later bear meaningful fruit."

The date for determining the issue price of the new shares issued through the capital increase is June 7, and the record date for new share allocation is May 4. After announcing the issue price on June 8, subscription for existing shareholders will take place on June 10 and 11. The new shares are scheduled to be listed on July 1.

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