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  • GNCO to finance Sumagen for AIDS vaccine
    GNCO to finance Sumagen for AIDS vaccine
    GNCO (065060) said on Sept. 7 that it will invest 3.62 billion won (US$3.31 million) in its subsidiary Sumagen by issuing 786,654 stocks to fund its clinical investigation for AIDS vaccine development. The amount is equivalent to 2.59 percent of the company’s equity capital.After the acquisition on Sept. 8, GNCO’s stake in the company will rise to 35.22 percent. By Yun Jeong-hyeon (clareyun@heraldcorp.com)
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GNCO to finance Sumagen for AIDS vaccine

Sept. 7, 2016 - 12:09 By 윤정현
[DISCLOSURE] GNCO (065060) said on Sept. 7 that it will invest 3.62 billion won (US$3.31 million) in its subsidiary Sumagen by issuing 786,654 stocks to fund its clinical investigation for AIDS vaccine development. 

The amount is equivalent to 2.59 percent of the company’s equity capital.
After the acquisition on Sept. 8, GNCO’s stake in the company will rise to 35.22 percent.

By Yun Jeong-hyeon (clareyun@heraldcorp.com)
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