Fantagio "No Potato Plan"... All-Out Effort to Improve Financial Structure Through Paid-in Capital Increase

[Asia Economy Reporter Jang Hyowon] Fantagio (CEO Park Jaehong) recently addressed circulating rumors about the company's capital reduction, stating on the 28th, "There have been concerns among shareholders and investors about a possible capital reduction, but there are absolutely no plans for such a reduction."

Fantagio's stock price had been rising, reaching 1,190 KRW intraday on the 16th of last month, but rumors of a capital reduction spread, causing the closing price to fall to 937 KRW.

Since then, the company has been inundated with inquiries from shareholders and investors regarding the capital reduction, and posts related to the capital reduction have continued to appear on Fantagio-related online shareholder boards.

The company officially declared on the 28th, ahead of the scheduled capital payment for a 5 billion KRW rights offering on the 30th, that there are absolutely no plans for a capital reduction. This move aims to promptly stop the spread of such rumors, alleviate shareholders' and investors' concerns, and improve the financial structure.

A company representative emphasized, "There is absolutely no problem with the capital payment related to the rights offering on the 30th," and reiterated, "This rights offering will significantly improve the financial structure, so there is no reason to pursue a capital reduction."

Meanwhile, the company is focusing on improving its business efficiency and boosting performance. It has announced that Park Moonhae, former head of Gravity Global Business Division, actress Kim Sumi, and Jung Myungho, Kim Sumi's son and CEO of Napalggot F&B, are scheduled to be appointed as inside directors.

The company stated that through the rich business experience and drive of the newly appointed inside directors, it plans to expand its scope as a global comprehensive entertainment company while maximizing profitability through the full-scale launch of the Sumi's Side Dish business.

Additionally, the company expects synergy among business divisions as its management business is being stably operated, showcasing the global influence of the group Weki Meki, which has received acclaim with the title track "COOL" from their fourth mini-album "NEW RULES" ranking 5th on Billboard's "2020 Best K-POP Songs 20," led by group ASTRO member Cha Eunwoo.

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