Air Busan, Employee Stock Ownership and Existing Shareholders' Rights Offering Subscription Rate at 96%... Secures 80.2 Billion KRW

"Reflecting the Interest and Expectations of Local Shareholders, Residents, and Employee Stock Ownership"

[Asia Economy Reporter Yoo Je-hoon] Air Busan announced on the 9th that it recorded a subscription rate of 96% in the paid-in capital increase subscription for employee stock ownership and existing shareholders held on the 7th and 8th. It secured 80.2 billion KRW out of the total subscription amount of 83.6 billion KRW.

Air Busan completed subscriptions for 28,799,751 shares out of the total 30 million shares planned to be issued in this paid-in capital increase for employee stock ownership and existing shareholders. Asiana Airlines, the largest shareholder of Air Busan, participated in the capital increase with approximately 30 billion KRW.

Air Busan stated, "The high subscription rate from existing shareholders reflects the interest and support of local shareholders and residents toward Air Busan," adding, "The number of employee stock ownership participants more than doubled compared to the time of listing in 2018, confirming expectations for the benefits of employee stock ownership."

Meanwhile, about 1.2 million unsubscribed shares will be offered to the general public. The public offering will take place on the 10th and 11th, with an issue price of 2,785 KRW per share, approximately 30% lower than the closing price of 3,985 KRW on the 8th. Air Busan plans to use the funds secured through this capital increase for operating expenses such as aircraft lease fees and fuel costs.

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