[Asia Economy Reporter Jang Hyowon] Medicox announced on the 20th that it will carry out a 100% free capital increase by allocating one new share per one existing share to enhance shareholder value. Through this free capital increase, 12,405,244 new common shares will be newly issued. The record date for new share allocation is November 17, and the scheduled listing date for the new shares is December 9.


Odaihwan, CEO of Medicox, stated, “This free capital increase was decided to demonstrate our commitment to enhancing shareholder value and continuing shareholder-friendly management,” adding, “With the increase in the number of issued shares through the free capital increase, stock price volatility is expected to rise, and the company’s intrinsic value will be actively reflected in the stock price in the future.”


Medicox is focusing on strengthening the bio industry to secure new growth engines. Following the exclusive import contract and equity investment in Green Farmers, an Australian cannabis cultivation company, Medicox secured domestic distribution license rights for oral insulin (ORMD-0801) from Israeli pharmaceutical company Oramed Pharmaceuticals.


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Its affiliate, new drug developer Mecox Curemed, has also completed domestic patent registration for the oral bendamustine treatment for blood cancer currently under development. Through the development of oral new drugs, the company plans to emerge as a new leader in the field of drug administration routes.


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