Nexten Bioscience Completes Receipt of 21 Billion KRW from Real Estate Sale
[Asia Economy Reporter Jang Hyowon] Nexten Bioscience announced on the 1st that the real estate sale transaction disclosed on March 10 has been completed, and they have received the purchase price of 21 billion KRW.
The real estate sold by the company consists of the building and land located at 103-28 Deokjeol-ri, Jeongnam-myeon, Hwaseong-si, Gyeonggi-do, which was purchased in April 2019. Last year, the company additionally acquired surrounding national land, purchasing the land for a total of 18.4 billion KRW.
Through this sale, the company secured a profit of approximately 3.1 billion KRW (17%) within two years of holding the real estate, creating momentum to strengthen its core business by improving its financial structure.
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A representative of Nexten Bioscience stated, “The profit secured from the real estate sale will be used for CNC core business, such as facility investments to expand production CAPA,” and added, “We will focus on enhancing shareholder value and company value by solidifying our position in the CNC business through financial structure improvement and strengthening profitability in our core business.”
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