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Photo courtesy of Ildong Pharmaceutical |
[Alpha Biz= Kim Jisun] Ildong Holdings announced on June 23 that it will sell 3,809,523 shares of its subsidiary, Ildong Bioscience, to a consortium of institutional investors led by the IBK-Kium Corporate Restructuring Private Equity Fund.
The total transaction value amounts to approximately KRW 30 billion, representing 47.6% of Ildong Bioscience’s outstanding shares. The first payment of KRW 12 billion is scheduled for this month, with the remaining KRW 18 billion to be settled by the end of next month. Upon completion of the transaction, Ildong Holdings’ stake in Ildong Bioscience will be reduced to 22.5%.
Ildong Holdings stated, “This equity transaction is part of our strategic effort to enhance corporate and shareholder value, while securing funds for business operations and affiliate growth.”
The company added that the deal will help validate the market value of Ildong Bioscience through capital market participation and pave the way for a future initial public offering (IPO) by attracting institutional pre-investment.
Established in 2016 through a spin-off from Ildong Pharmaceutical, Ildong Bioscience is a specialized producer of health functional foods and related raw materials. The company holds proprietary technologies and patents in the probiotic and postbiotic sectors, supported by industry-leading production facilities.
Ildong Holdings aims to list Ildong Bioscience on the stock market by 2028, actively pursuing investment and preparations to meet IPO requirements.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
