[Edaily Reporter Shin Ha-yeon ] Amicogen, Inc.(092040)is trading up by more than 20% in early trading. This is believed to be driven by news that the company plans to raise operating funds through a third-party private placement and that its largest shareholder is set to change.

According to MP Doctor on the 23rd, as of 9:25 a.m. today, Amicogen, Inc. is trading at 1,834 won, up 24.42% from the previous trading day.

After the market closed the previous day, Amicogen, Inc. announced that it had decided to conduct a third-party private placement worth approximately 10 billion won to raise operating funds. A total of 8,554,319 common shares will be issued, with an issue price of 1,169 won per share. The payment date is July 15, and the new shares are scheduled to be listed on August 10.

The recipient of this capital increase is YK BioNova Daesang Holdings. Once the payment for the capital increase is completed, YK BioNova Daesang Holdings, the recipient of the third-party allocation, is expected to become the company’s largest shareholder.

According to the disclosure, the funds raised will be used for working capital, including operating activities. The new shares issued through this capital increase will be subject to a mandatory holding period of one year from the date of deposit.