[Edaily Reporter Kim Kyung-eun ] Shares of Aprogen Biologics(003060)surged to the daily price limit early in the trading session on news that the company would raise 20 billion won from its largest shareholder, Aprogen(007460).

According to MP Doctor on the 4th, as of 9:20 a.m., Aprogen Biologics was trading at 2,245 won, up 518 won (29.99%) from the previous trading day, hitting the daily price limit. At the same time, Aprogen was trading at 2,305 won, up 225 won (10.82%).

After the market closed the previous day, Aprogen Biologics announced that it had decided to conduct a 20 billion won third-party private placement directed at its largest shareholder, Aprogen.

The new shares to be issued through this capital increase consist of 12,706,481 common shares, all of which will be acquired by Aprogen. The issue price is 1,574 won per share, and the payment date is the 11th.

In particular, the fact that the entire 20 billion won raised through this capital increase will be used to acquire securities of other companies appears to have stimulated investor sentiment. Currently, the counterparty, the issuing company, and the details of the business have not been determined, and the company plans to issue a corrected disclosure as soon as these details are finalized.

Aprogen will issue 20 billion won worth of convertible bonds (CBs) to participate in this rights offering. It plans to use the entire amount raised to acquire securities from its affiliate, Aprogen Biologics.