BID, Largest Shareholder Chairman An Seung-man Invests 10.1 Billion KRW... "Accelerating Financial Structure Improvement and New Business"

[Asia Economy Reporter Hyunseok Yoo] VIDI announced on the 21st that its largest shareholder, Chairman An Seungman, will invest 10.1 billion KRW to improve the financial structure.

VIDI recently decided on a third-party allotment paid-in capital increase targeting its largest shareholder, Chairman An Seungman, to promptly secure necessary funds and achieve the company's management objectives. The number of shares to be issued is 4,662,973, with a new share issuance price of 2,133 KRW. The payment date is the 27th of this month, and the listing date is the 11th of next month. All shares issued through this capital increase will be subject to a one-year lock-up period.

Through this capital increase, VIDI plans to resolve the shortfall from the public capital increase conducted in June and improve the company's financial structure by repaying debts. This will enable the company to accelerate new renewable energy projects such as wind power and fuel cells, as well as its bio business.

A VIDI official stated, "We expect that this private investment by the largest shareholder will serve as an opportunity to overcome various management difficulties experienced this year and start anew as a sound company," adding, "With the necessary funds secured through the capital increase, we will expedite the promotion of new businesses to generate profits quickly."

Meanwhile, VIDI has achieved a total order performance of 1.43 trillion KRW in the renewable energy sector to date. Orders include 903.2 billion KRW for wind power generation, 324.6 billion KRW for fuel cell power generation, 154 billion KRW for solar power generation, and 50 billion KRW for waste solid fuel gasification power generation.

Additionally, through its U.S. subsidiary, Ellison Pharmaceuticals, VIDI is steadily progressing the development of major anticancer pipelines. Clinical progress and preparations are regularly reported for pancreatic cancer second-line treatment "Glufosfamide" (U.S. Phase 3 clinical trial underway), lung cancer treatment "ILC" (U.S. Phase 2 clinical trial and Phase 3 application), and brain cancer treatment "DBD" (Phase 3 clinical trial planned), indicating smooth progress in the bio business as well.

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