Paxnet Withdraws 10 Billion KRW Third-Party Allocation Capital Increase
[Asia Economy Reporter Yoo Byung-don] Paxnet announced on the 24th that it is withdrawing the decision for a 10 billion KRW third-party allotment capital increase, which was approved at the board meeting in January.
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Paxnet stated, "The allottee, Tiger Value Association, submitted a request letter to withdraw the payment for the capital increase due to internal judgment based on uncertainties regarding the company's litigation cases, the capital increase schedule, and the maintenance of listing status due to substantive review." The company explained, "We have inevitably decided to withdraw the capital increase."
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