"High Dividend Stock" Macquarie Infra Fund's Rights Offering Success... Subscription Rate 117%

Shareholders Participating in Paid-in Capital Increase Can Receive Dividends in the Second Half of the Year

[Asia Economy Reporter Minji Lee] Macquarie Infrastructure Fund succeeded in its rights offering targeting existing shareholders by achieving oversubscription.

According to Macquarie Infrastructure on the 16th, the subscription for the rights offering held over two days on the 13th and 14th resulted in 27,191,770 shares being subscribed against the planned issuance of 23,148,149 shares, recording a subscription rate of 117.46%. The number of shares subscribed through exercising the new share subscription rights was 19,897,949, with an oversubscription of 7,292,228 shares. The 15,598 odd shares will be offered through a general public offering.

Macquarie Infrastructure decided on the rights offering to raise funds for new investments and to repay borrowings. In December last year, Macquarie Infrastructure committed to invest KRW 83 billion in the Seoul Dongbuk Light Rail Transit Project and decided in September to invest KRW 110 billion in the Busan New Port J Back Road.

In this rights offering, Macquarie Infrastructure allowed investors to oversubscribe up to twice the allocated new shares. While general listed companies allow oversubscription only up to 20% of the allocated shares, Macquarie Infrastructure Fund, as an investment company, is not subject to the oversubscription limit, significantly expanding subscription opportunities.

Seobum Sik, CEO of Macquarie Asset Management, said, “We proceeded with the rights offering to raise funds as we are actively promoting new investments for a second leap forward. Based on the expectations of about 70,000 investors, we will continue to grow as a leading listed infrastructure fund in Korea.”

Meanwhile, shareholders participating in this rights offering will be entitled to receive the second half of 2020 dividends (KRW 360 per share) as of the record date at the end of this month.

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