[Edaily Reporter KIM SAE-MI ] BL Pharmtech(065170)is selling its entire stake in KwangdongHealthbio for approximately 2.6 billion won to strengthen its liquidity.

BL Pharmtech announced on the 5th that it has decided to transfer 1,770,958 shares of KwangdongHealthbio to Guangdong Lifestyle Health for 2,553,140,000 won.

The transfer amount represents 14.03% of the company’s total assets of 18.2 billion won and 25.72% of its equity of 9.9 billion won, as reported on a consolidated basis at the end of last year. The transfer price was calculated based on the net asset value reported in the externally audited financial statements, and no separate external valuation was conducted.

Following this transaction, BL Pharmtech’s stake in KwangdongHealthbio will be reduced to 0%. The full purchase price is scheduled to be paid in cash on January 4 of next year.

An official from BL Pharmtech stated, “The purpose of the sale is to strengthen liquidity.”

Meanwhile, KwangdongHealthbio is a manufacturer and importer/exporter of health functional foods; last year, it posted revenue of 67 billion won and a net loss of 600 million won. As of the end of last year, its total assets stood at 62.2 billion won, and total liabilities at 43.9 billion won.