Solbrain Holdings Decides on a 686.1 Billion KRW Capital Increase

[Asia Economy Reporter Han Jinju] Solbrain Holdings announced on the 26th that it will conduct a general public offering worth 686.1 billion KRW to raise funds for acquiring securities of other corporations. A total of 15,877,166 shares will be issued, with the new share issuance price set at 43,213 KRW. The scheduled listing date for the new shares is December 30.

Solbrain Holdings changed its name to Solbrain Holdings on May 14 to transition into a holding company, established Solbrain through a spin-off on July 1, and underwent a changed listing and re-listing on August 6. To meet the requirements of the Fair Trade Act for holding companies, Solbrain Holdings is conducting a paid-in capital increase to additionally acquire Solbrain shares by receiving in-kind contributions through a tender offer.

The company stated, "We plan to conduct a paid-in capital increase by receiving issued shares as in-kind contributions from Solbrain shareholders and issuing and allocating new shares to the shareholders who contributed in-kind as consideration." It added, "Although the paid-in capital increase will be conducted in accordance with the general public offering method, the subscription and allocation of new shares will be limited to shareholders of the affiliate company Solbrain who responded to the tender offer."

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