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The Korea Herald
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THE INVESTOR
March 19, 2024

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Bukwang Pharma sells Anterogen shares worth W40b

  • PUBLISHED :January 16, 2019 - 14:59
  • UPDATED :January 16, 2019 - 15:04
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[THE INVESTOR] Bukwang Pharmaceutical announced on Jan. 15 that is has sold its 7.11 percent stake, worth around 39.7 billion won (US$35.40 million), in Anterogen through an after-hours block deal.

Anterogen, which was established in 2000 by former Bukwang Pharma CEO Lee Sung-gu, specializes in developing cell therapies. Bukwang invested in the firm when it was first established.




When Anterogen was listed on the second-tier KOSDAQ bourse in 2016, Bukwang was the biggest shareholder with 28.78 percent stake. After the recent sale, it holds 7.11 percent stake in the company and founder Lee has become the largest shareholder with 11.93 percent stake.

“Our company has been holding the shares for a long time. We decided to sell and withdraw our investment,” a Bukwang spokesperson told The Investor, adding that the company does not have plans to sell the remaining shares at the moment.

This is not the first time that Bukwang has sold its stake, having sold 400,000 shares for around 37.7 billion won last year.

By Song Seung-hyun (ssh@heraldcorp.com)

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