Lotte Food Acquires Lotte Nestle Korea Shares Through Equity Contribution

[Asia Economy Reporter Jang Hyowon] Lotte Foods announced on the 27th that it has decided on a third-party allotment paid-in capital increase worth 34.2 billion KRW. Through this capital increase, 77,185 new shares are expected to be issued. This accounts for approximately 6.81% of the total 1,131,870 shares before the capital increase.

The purpose of the fund raising is to acquire securities of other corporations. The issue price per new share is 442,863 KRW. The allottee is Lotte Holdings.

This paid-in capital increase by third-party allotment involves Lotte Holdings contributing its shares of Lotte Nestle Korea, a domestic coffee processing corporation, to Lotte Foods as an in-kind contribution, and receiving newly issued shares of Lotte Foods in exchange.

The number of new shares is calculated by dividing the amount evaluated by an external appraisal agency for Lotte Nestle Korea, which is the subject of the in-kind contribution, by the new share issue price of 442,863 KRW.

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