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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Huons and Huons Global have officially acknowledged the possibility of an affiliate merger, marking the first time the companies have confirmed they are reviewing such a move amid recent market speculation over a potential group restructuring involving Huonslab.
In a regulatory filing response to the Korea Exchange on May 13, Huons Global stated that it is “exploring various measures to enhance management efficiency and secure future growth drivers.” The company added that it is “reviewing strategic options, including the merger of subsidiaries, to strengthen competitiveness and research and development (R&D) capabilities of its pharmaceutical and bio business units for mid- to long-term sustainable growth.”
Huons issued a separate filing on the same day, stating that it is likewise “reviewing strategic measures, including potential mergers among affiliates, to enhance competitiveness in its pharmaceutical and bio business and reinforce R&D capabilities for long-term sustainable growth.”
However, both companies noted that no concrete decisions have been made and pledged to re-disclose updates either when specific details are finalized or within one month. The deadline for the follow-up disclosure is set for June 12.
The filings were made in response to a disclosure request by the Korea Exchange following market rumors raised after the close of trading on May 12 regarding a possible merger involving Huonslab.
Market observers have pointed to a potential merger between Huons and Huonslab, an unlisted subsidiary widely regarded as a key asset of Huons Global. Huonslab is currently developing its proprietary “HyDIFFUZE” platform, which enables the conversion of intravenous (IV) formulations into subcutaneous (SC) injections.
Shares of Huons Global and Huons have shown divergent movements in recent trading sessions. Huons Global’s stock fell approximately 32% over the past two trading days, while Huons shares rose 16.5% during the same period.
Huons Global currently holds a 64.1% stake in Huonslab, making it the largest shareholder.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
