CHA Vaccine Research Institute, a KOSDAQ-listed company, was weak early on the 19th. The decline is seen as influenced by news that an affiliate is selling a large stake in CHA Vaccine Research Institute.
As of 9:59 a.m. that day, CHA Vaccine Research Institute was trading at 2,355 won, down 790 won (25.12%) from the previous session.
CHA Biotech announced before the regular session opened that it would transfer 8,948,813 shares of equity in CHA Vaccine Research Institute to Solux, Aribio Special Purpose No. 13, and others. The price is 2,664 won per share, totaling 23.8 billion won.
Accordingly, CHA Biotech's equity stake in CHA Vaccine Research Institute will fall from 38.30% to 4.99%. After the share transfer is completed, Solux will become the largest shareholder with a 14.70% stake.
CHA Vaccine Research Institute is a vaccine developer based on an immune-enhancement platform technology. As CHA Bio Group is restructuring its business around cell and gene therapy (CGT), artificial intelligence (AI) healthcare, and life sciences, the decision is interpreted as part of that strategy.