CJ CheilJedang Participates in CJ Bhasa Capital Increase... "Positive Future Value"
CJ CheilJedang announced on the 7th that it will participate in the paid-in capital increase of its affiliate CJ Bioscience.
The number of shares invested is 1,703,198, which exceeds 120% of the new shares allocated.
A CJ CheilJedang official explained, "This was carried out based on a positive outlook on the future value of CJ Bioscience and as part of the responsible management by the major shareholder."
The number of shares allocated to existing shareholders is 1,419,332, and the maximum number of shares for oversubscription is 283,866.
The price per share is 14,110 KRW, with a total investment amount of approximately 24 billion KRW.
With a 120% investment, CJ CheilJedang's stake will increase from the existing 43.9% to about 47%.
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CJ Bioscience will use the resources secured through the paid-in capital increase for clinical development costs, platform technology research, and other purposes.
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