[Edaily Reporter NA EUN-KYUNG ] Icure Pharmaceutical Incorporation(175250)announced on the 28th that the payment for a 25 billion won third-party private placement has been completed.
Through this capital increase, 24,177,949 common shares were issued, and the actual amount paid in was 24.9999 billion won. The new shares are scheduled to be listed on September 11.
SOLUM Cosmetics acquired 18,858,802 shares, marking the realization of the previously announced change in the company’s largest shareholder. SINSIN PHARMACEUTICAL CO., LTD. and Deep Dive K-Beauty 2026 Private Equity Partnership also acquired 2,901,353 shares and 2,417,794 shares, respectively, joining Icure Pharmaceutical Incorporation as shareholders. All of these new shares are subject to a one-year mandatory holding period.
This rights offering is part of Icure Pharmaceutical Incorporation’s implementation of the business improvement plan submitted to the Korea Exchange. Icure Pharmaceutical Incorporation’s stock trading remains suspended following the prosecution’s indictment of former CEO Choi Young-kwon on charges of breach of trust and embezzlement; the company is currently working to improve its corporate governance and financial structure through this change in its largest shareholder. The funds raised will be used for facility investments, working capital, and debt repayment. The company is currently undergoing a review to maintain its listing status; in its disclosure, it also stated that, depending on the outcome of the review, the mandatory holding period for the new shares acquired by SOLUM may be extended upon the resumption of trading.
Through this capital increase, 24,177,949 common shares were issued, and the actual amount paid in was 24.9999 billion won. The new shares are scheduled to be listed on September 11.
SOLUM Cosmetics acquired 18,858,802 shares, marking the realization of the previously announced change in the company’s largest shareholder. SINSIN PHARMACEUTICAL CO., LTD. and Deep Dive K-Beauty 2026 Private Equity Partnership also acquired 2,901,353 shares and 2,417,794 shares, respectively, joining Icure Pharmaceutical Incorporation as shareholders. All of these new shares are subject to a one-year mandatory holding period.
This rights offering is part of Icure Pharmaceutical Incorporation’s implementation of the business improvement plan submitted to the Korea Exchange. Icure Pharmaceutical Incorporation’s stock trading remains suspended following the prosecution’s indictment of former CEO Choi Young-kwon on charges of breach of trust and embezzlement; the company is currently working to improve its corporate governance and financial structure through this change in its largest shareholder. The funds raised will be used for facility investments, working capital, and debt repayment. The company is currently undergoing a review to maintain its listing status; in its disclosure, it also stated that, depending on the outcome of the review, the mandatory holding period for the new shares acquired by SOLUM may be extended upon the resumption of trading.
