Hubexel Decides on Small Paid-in Capital Increase for "Facility Expansion and Operating Funds"

[Asia Economy Reporter Hyunseok Yoo] Hubexel, a medical device specialist company, announced on the 22nd that it will conduct a paid-in capital increase worth approximately 1 billion KRW yesterday.

The subscription date is scheduled for the 25th, and the subscription handling places are Shinhan Financial Investment, which is the lead manager, as well as HTS, MTS, and ARS. The payment date is the 29th, the payment bank is Industrial Bank of Korea Seosihwa Branch, and the new shares are expected to be listed on the 9th of next month.

The funds will be used for 300 million KRW in facility funds and about 700 million KRW in operating funds. CEO Heo Seong-gyu said, “During the COVID-19 pandemic, an unprecedented shortage of hospital beds caused a large number of orthopedic and neurosurgery operations to be canceled, which dealt a significant blow to our industry. However, from this year, COVID-19 vaccines are being distributed worldwide, treatments are being developed and are imminent, and as the worst external environment improves, the orthopedic and neurosurgery surgeries that were massively canceled last year are resuming. Additionally, with the global liquidity surplus phenomenon, we predict that achieving the highest performance this year is possible.”

He explained, “The largest shareholder, e-commerce company T-Life, holds a stake of 84.64% (including 4 special related parties, 89.26%). As a KONEX-listed company, it is necessary to expand the number of tradable shares to enable share dispersion and active trading. Therefore, this paid-in capital increase was decided at the board meeting.”

Currently, Hubexel’s headquarters have completed preparations for production, management, and logistics systems. Dio USA, which has been competing with global companies locally in the U.S. for 10 years, plans to acquire more than 4 new FDA certifications this year and more than 10 by next year through a customization strategy and technical sales for new product development. This will expand the product portfolio.

Additionally, by combining with the existing global sales network in 12 countries, they plan to establish a customer-oriented logistics system using IT systems and a global supply network based in China, the Middle East, Southeast Asia, and Europe, so that global product development and rapid sales are linked.

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