SEOUL - Biopharmaceutical company Sillajen Inc. has announced its intention to conduct a new stock offering aimed at raising 129.4 billion won (approximately US$96.7 million). The funds raised are expected to support the company's operational financing needs.
According to Yonhap News Agency, Sillajen plans to issue 34.5 million common shares at a price of 3,750 won per share. This stock sale is targeted towards the company's existing shareholders, allowing them to invest further in the company's future.
The move to raise capital through a stock offering highlights Sillajen's strategy to bolster its financial position and sustain its operations. This development comes at a time when the biopharmaceutical sector is increasingly competitive, with companies striving for innovation while managing operational costs.