On the 15th, HLB Group announced that the financial investment firm Epoque purchased 207,897 shares of GenoFocus, Inc.(187420) on the open market in six separate transactions between the 6th and the 14th. As a result, Epoque’s holdings in HLB Genex have increased from 326,583 shares to 534,480 shares.
Previously, from the 23rd of last month through the 1st of this month, Epoque purchased 218,718 shares of HLB innoVation and 130,584 shares of HLB Therapeutics on the open market. The company appears to be continuing its acquisition of stakes in affiliates through its subsidiaries.
Chairman Jin is also continuing to purchase shares in affiliated companies in his personal capacity. Since the beginning of this year, he has purchased a total of 1,224,029 shares in six affiliated companies—HLB innoVation, HLB PANAGENE, HLB Therapeutics, HLB Genex, HLBbioStep, and HLB Pep—in 62 separate transactions on the open market.
HLB INC. explained that Chairman Jin’s share purchases stem from his assessment that the current market value of major affiliates is undervalued relative to their growth potential.
An HLB INC. official stated, “Chairman Jin Yang-gon’s sustained and repeated share purchases demonstrate his confidence in the future growth of the Group and its affiliates through direct investment,” adding, “This reflects his commitment to supporting the growth of affiliates from a long-term perspective and strengthening responsible management to simultaneously enhance corporate value and shareholder value.”
Meanwhile, HLB Genex is strengthening its business with a focus on specialty industrial enzymes and bio-healthcare materials. While expanding the application of its flagship product, catalase, in semiconductor processes, the company is also broadening its business scope to include enzymes for textiles and enzymes used in the manufacture of pharmaceutical raw materials.
