[This Week's Paid-in Capital Increase] October Third Week Public Offering Schedule

[Asia Economy Reporter Yoo Hyun-seok] In the third week of this month (October), rights offerings will be conducted by Hyundai Construction, Jeju Air, and Neogen.

◆Hyundai Construction=Hyundai Construction will proceed with a rights offering to existing shareholders. Subscription for existing shareholders will be held from the 21st to the 22nd.

A total of 2 million shares will be issued. The final issue price will be announced on the 19th. The initial issue price is 98,300 KRW per share. A total of 196.6 billion KRW will be raised. The shares issued will be preferred stocks.

Of the funds raised, Hyundai Construction plans to pay 99 billion KRW to Hyundai Steel for construction and material costs. The remaining 97.6 billion KRW will be invested in an offshore wind power project.

The market interprets Hyundai Construction’s preferred stock rights offering as a move to avoid the delisting requirements for preferred stocks. The Financial Services Commission has changed the delisting criteria for preferred stocks to fewer than 200,000 issued shares (previously 50,000 shares) and a market capitalization below 2 billion KRW (previously 500 million KRW).

Currently, Hyundai Steel has a total of 98,856 preferred shares listed.

◆Jeju Air=Jeju Air will conduct a rights offering followed by a general public offering for unsubscribed shares. On the 18th, the offering will be conducted for the employee stock ownership association. From the 18th to the 19th, existing shareholders will be eligible. Additionally, general public subscription will be held from the 21st to the 22nd.

A total of 11.26 million shares will be issued. The confirmed issue price is 18,350 KRW per share. A total of 206.6 billion KRW will be raised. Jeju Air plans to use the raised funds for operating capital and debt repayment.

◆Neogen=Neogen will conduct a rights offering followed by a general public offering for unsubscribed shares. Subscription for existing shareholders will be held from the 20th to the 21st, and general public subscription from the 25th to the 26th.

A total of 29.5 million shares will be issued. The confirmed issue price will be announced on the 18th. The initial issue price is 1,040 KRW per share, raising a total of 30.7 billion KRW.

All funds will be used for operating capital. Of this, 10.4 billion KRW will be used for purchasing rights to diversify the game portfolio, 15 billion KRW will be invested in marketing expenses, and the remaining 5.3 billion KRW will be used for personnel expenses and others.

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