Inscobee, Inc completed the acquisition of 2.27% stake in Cellumed Co., Ltd. from Young-Bock Shim.
May 09, 2018
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Inscobee, Inc (KOSE:A006490) entered into an agreement to acquire 2.27% stake in Cellumed Co., Ltd. (KOSDAQ:A049180) from Young-Bock Shim for KRW 16 billion on April 17, 2018. Under the terms of the transaction, Inscobee, Inc will acquire 0.44 million shares at KRW 36,655 per share. Out of total consideration, KRW 6.4 billion will be deposited on April 17, 2018 and remaining KRW 9.6 billion will be paid on May 10, 2018. Out of total shares, 0.17 million will be transferred on April 17, 2018 and 0.26 million on May 10, 2018. Upon completion, Young-Bock Shim will hold no stake in Cellumed Co., Ltd. The transaction will be financed through own funds of Inscobee. The transaction is expected to close on May 10, 2018.
Inscobee, Inc (KOSE:A006490) completed the acquisition of 2.27% stake in Cellumed Co., Ltd. (KOSDAQ:A049180) from Young-Bock Shim on May 10, 2018. Young-Bock Shim now does not hold stake in Cellumed Co., Ltd.
CELLUMED CO., LTD., formerly Korea Bone Bank CO., LTD, is a Korea-based company engaged in the manufacture and sale of medical equipment and biosimilars. The Companyâs products consist of allografts for tissue repair; bone sponges, bone powders and demineralized bone matrixes (DBMs) for bone regeneration; biosimilars, such as bone morphogenetic protein 2 (BMP2) reagents and others, as well as medical devices, such as spinal fixation systems, joint replacements and navigation systems. The Company sells its products within domestic market and to overseas markets.
CELLUMED CO.,LTD. 
