Medicox Raises 22.3 Billion KRW Through Rights Offering to Existing Shareholders... Subscription Rate 97.2%

[Asia Economy Reporter Jang Hyowon] Medicox, a KOSDAQ-listed company currently conducting a paid-in capital increase through a rights offering and general public subscription worth approximately 23 billion KRW, announced on the 4th that it raised about 22.3 billion KRW during the two-day priority subscription period for existing shareholders held on the 30th of last month and the 3rd.

The subscription rate among existing shareholders was 97.2%, and Medicox will begin a general public subscription for approximately 2.8%, about 600,000 shares, of unsubscribed shares over two days starting from the 6th. The new share issuance price is 1,070 KRW per share, and the scheduled listing date for the new shares is the 24th.

A Medicox official stated, “There was a high subscription rate of about 97.2% across existing shareholders, including participation from the largest and second-largest shareholders,” adding, “Along with the growth vision for the new bio business, the recent arrival of the shipbuilding supercycle and the company’s possession of essential post-processing docks in the ship manufacturing process seem to have been positively recognized as an improvement in the core business.”

Medicox plans to use the funds raised from this capital increase primarily for facility investments driven by the shipbuilding industry boom and investments in bio new drug development projects. From a mid- to long-term perspective, the company intends to continue responsible management by strengthening competitiveness in the bio business sector, including acquiring leading pharmaceutical companies for clinical advancement, as well as improving profitability centered on the shipbuilding sector and undertaking comprehensive financial structure improvements.

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