Jin Air to Raise 109.2 Billion KRW in Paid-in Capital Increase... "To Develop Continuous Growth Engines"

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[Asia Economy Reporter Kang Nahum] Jin Air is launching a paid-in capital increase worth 100 billion KRW.

Jin Air announced on the 5th that its board of directors resolved to proceed with a paid-in capital increase totaling 109.2 billion KRW. Jin Air stated, "The paid-in capital increase is being carried out to prepare for an uncertain business environment while developing continuous growth drivers."

This paid-in capital increase will be conducted through a rights offering followed by a general public subscription for any unsubscribed shares, issuing 15 million new shares at 7,280 KRW per share. The record date for new share allocation is September 16, and the payment date is November 3.

Jin Air's largest shareholder is Hanjin Kal (with a 60.0% stake). Excluding the 20% allocation to employee stock ownership, Hanjin Kal will need to invest approximately 52.4 billion KRW to participate in Jin Air's paid-in capital increase.

Existing shareholders can apply for new share subscriptions from October 26 to 27. General investors can subscribe from October 29 to 30. The lead underwriters are Shinhan Financial Investment, Mirae Asset Daewoo, KB Securities, and Samsung Securities.

Upon completion of the paid-in capital increase, Jin Air's total issued shares will increase from the current 30 million shares to 45 million shares. The funds raised through this capital increase will be used as operating capital.

This content was produced with the assistance of AI translation services.