GNCO to invest W3b in Sumagen to fund AIDS vaccine development

[DISCLOSURE] GNCO (065060) said on Aug. 4 that it has agreed to invest 3.2 billion won (US$2.87 million) in its subsidiary Sumagen by issuing 707,845 stocks to fund its AIDS vaccine development. The amount is equivalent to 2.33 percent of the company’s equity capital.

GNCO’s stake in the company will be 35.22 percent (6.1 million shares).