[DISCLOSURE] Aprogen Pharmaceutical (003060) announced on May 24 that it has decided to acquire 37,422,037 shares of its gaming and wireless business affiliate Aprogen H&G (109960) at 90 billion won (US$83.27 million) by participating in its capital raise “to strengthen pharmaceutical business.”

It will own 46.9 percent stake (41,941,321 shares) in the affiliate. 

By Hwang You-mee (glamazon@heraldcorp.com)