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[DISCLOSURE] DSK (109740) said its subsidiary Protox will take over Medica Korea by acquiring 51 percent of its stake and the management rights for 38 billion won (US$32.9 million), in a statement on July 7.
To finance this acquisition, DSK will issue 20 billion won (US$17.3 million) worth bonds with warrants for Taurus Investment & Securities, it said in a separate announcement.
Protox is developing protoxin, nondiffusible botulinum toxin, and by merging with the privately held pharmaceutical company, will secure a manufacturing facility for the product.
To finance this acquisition, DSK will issue 20 billion won (US$17.3 million) worth bonds with warrants for Taurus Investment & Securities, it said in a separate announcement.
Protox is developing protoxin, nondiffusible botulinum toxin, and by merging with the privately held pharmaceutical company, will secure a manufacturing facility for the product.
