Air Busan Successfully Completes Paid-in Capital Increase... General Public Subscription Attracts 2.1 Trillion Won

Subscription rate for employee stock ownership and existing shareholders also at 96%

[Asia Economy Reporter Yoo Je-hoon] Air Busan announced on the 13th that it recorded a subscription competition rate of 627 to 1 in the general public offering subscription for its paid-in capital increase held on the 10th and 11th, attracting approximately 2.1 trillion KRW in funds.

This general public offering subscription was conducted for 1.2 million forfeited shares that occurred after the employee stock ownership association and existing shareholders' subscription held on the 7th and 8th, and the subscription rate for the employee stock ownership association and existing shareholders also reached 96%.

Based on the amount secured through this capital increase, Air Busan plans to resolve the liquidity crisis caused by the novel coronavirus disease (COVID-19), including aircraft lease fees and fuel costs.

Han Tae-geun, CEO of Air Busan, said, "Despite the difficult times, I would like to express my gratitude to the local residents, local business community, and all investors who believed in the company's resilience and supported the paid-in capital increase," adding, "With the support you have given, we will overcome the COVID-19 crisis well and repay shareholders with greater corporate value."

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