[Edaily Reporter Kwon Oh Seok ] TELCON RF PHARMACEUTICAL. Inc.(200230)announced on the 28th that it has completed a 5 billion won third-party private placement with Evercore Daesang Holdings and will proceed with reorganizing the group’s governance structure and strengthening its business competitiveness.

According to the company, the capital increase resulted in the issuance of 2,329,916 common shares at an issue price of 2,146 won per share. The newly issued shares are subject to a one-year lock-up period starting from the listing date.
Concurrently with this capital increase, TELCON RF PHARMACEUTICAL. Inc. participated in a third-party allocation capital increase conducted by KPM TECH CO., LTD. to reorganize the group’s capital structure and streamline investment relationships among affiliates more efficiently. The company explained that, through this process, it alleviated financial burdens by converting a portion of inter-affiliate loans into equity, and that each company has established a foundation to pursue mid- to long-term growth strategies based on expanded capital and improved financial structures.
TELCON RF PHARMACEUTICAL. Inc.’s Pharmaceutical Division continues to show steady growth, centered on its gastrointestinal protective agent product line, “Algicel Liquid” (active ingredient: sodium alginate). While expanding investments in production and logistics infrastructure, the company is also proceeding with the installation of palletizers to improve productivity and the construction of a new 2,000-cell high-rack warehouse to enhance the efficiency of product intake and shipment for contract manufacturers.
A company official stated, “This rights offering is a strategic decision aimed at streamlining the group’s ownership structure more efficiently and establishing a stable governance framework,” adding, “Based on this clarified governance structure, we will do our utmost to enhance management efficiency and business competitiveness to increase corporate value and shareholder value.”