Boryung will issue shares worth 175 billion won via a third party allotment, the company said on Nov. 4. Boryung Partners will acquire 18,097,207 shares at a price of 9,670 won per share.
The day of payment on the paid-in capital increase is set for Nov. 13, and new issues will be listed on Nov. 29.
Boryung plans to set aside 50 billion won to expand plants and facilities to ramp up the pharmaceutical business; 75 billion won to secure strategic essential medicines and expand the supply and distribution business; and 50 billion won to invest in the space business.
Boryung plans to expand plants and facilities and increase self-sufficiency, focusing on manufacturing strategically-essential medicines.
The company aims to stabilize the supply of essential medicines, requiring national supply chains and step up the pharmaceutical business, which is now growing fast.
Boryung intends to secure new growth engines by advancing to global markets beyond Korea.
The company plans to step up CDMO business by securing supply and distributing strategically essential medicines abroad.
Boryung plans to continue to invest into the space business, which it began in 2022.
Boryung aims to secure infrastructure essential for humans’ long-term stay in space, in addition to capabilities of a business related to space medicine. It will continue to contribute to the development of Korea’s space industry.
Meanwhile, Boryung disclosed a plan to retire its outstanding treasury stock. Boryung CEO & Chairman Jay Kim said, “Amid the hard market conditions, aggressive investment and spearheading into markets are essential to continue long-term growth, and from now on, Boryung does not spare efforts to not only make strongly financial achievements and raise shareholders’ values, but also become a company essential for the health of humans.”
Boryung’s production facility for anti-cancer injections in Yesan, Chungcheongnam-do.
Borung Gets ‘Overall A’ in 2024 ESG Evaluation by KCGS
Boryung was rated at “overall A” in the “2024 ESG Evaluation” by the Korea Institute of Corporate Governance and Sustainability (KCGS), the company said on Nov. 4.
The latest rating is a one-notch rise from B+ the company got last year. Boryung got “A” in the environment category, the same as last year’s but the company saw ratings rise to A+ and B+, each a one-notch rise from last year’s, in the social and governance categories.
It was the first time Boryung was rated an overall A by KCGS.
In the environment sector, Boryung has been credited with conducting diverse activities, ranging from in-house eco-friendliness like “Paper Cup Zero Campaign,” and “Drive to Collect Waste Medicines” to an event of planting trees for practicing carbon neutrality and a campaign to protect sea swallow and stork habitats for preserving biodiversity.
Boryung has pursued carbon neutrality management, as the company has systemized a plan to reduce greenhouse gas emissions by completing a third-party verification of greenhouse gas usage amounts on a voluntary basis to cope with climate change.
Boryung was rated at A+, the highest grade in the social category, as the company has been stepping up shared growth with the local community through diverse social contribution activities, such as supporting of neighborhood children and hiring of the physically handicapped.
Boryung has been reputed with no industrial disaster by creating a safe business environment, and the company was certified to be a family-friendly company by the Ministry of Gender Equality and Family by establishing human rights management and improving a corporate environment in consideration of its executives and staff members.
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