Jeju Air's Paid-in Capital Increase Success... Secures 206.6 Billion KRW Operating Funds
[Asia Economy Reporter Kim Jin-ho] Low-cost carrier (LCC) Jeju Air has successfully completed a rights offering, securing 206.6 billion KRW in operating funds.
According to Jeju Air on the 25th, the final subscription rate for the rights offering was 664.1%. AK Holdings, the largest shareholder of Jeju Air, participated in the rights offering with an allocation worth 88.4 billion KRW. Additionally, Jeju Special Self-Governing Province, the third largest shareholder, participated with 4 billion KRW.
The general public subscription, excluding the employee stock ownership association and others, also recorded a high competition rate of 97.17:1. The payment date for the rights offering is scheduled for the 29th of this month, and the new shares are expected to be listed on the 12th of next month.
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A Jeju Air official explained, "Through the rights offering, we proactively resolved management uncertainties and secured stable operating funds."
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