Ascendio, Successful Rights Offering... 1.46 Trillion Won Demand Floods General Public Subscription

Subscription Competition Rate 951 to 1
Reflecting Expectations for Content Producers After 'Ojingeo Game'

[Asia Economy Reporter Lim Jeong-su] Comprehensive content company Ascendio announced on the 10th that it has successfully completed a paid-in capital increase through a rights offering and a general public offering worth 30.7 billion KRW.

Ascendio recorded a subscription competition rate of 951.1:1 in the general public offering conducted on the 8th and 9th. During the subscription for existing shareholders held on the 3rd and 4th, the subscription rate was 95%, leading to a general public offering for 847,953 unsubscribed shares, which attracted purchase orders worth approximately 1.46 trillion KRW.

Accordingly, Ascendio successfully secured the target amount of 30.7 billion KRW. The total number of subscribed shares is 17 million, and the new shares are issued at 1,810 KRW per share. The payment date is set for the 11th, and the raised funds will be used for operating expenses and facility investments.

Ascendio interpreted the success of the capital increase as reflecting expectations for its content business. Since normalizing management in the first half of this year and reorganizing its business portfolio, the company has taken an aggressive approach, and interest in domestic content companies has continued to rise recently with the advent of the With COVID-19 era.

According to Ascendio, the company is currently smoothly progressing with production and investment in films such as "The Killer," "Wolf Hunt," "Bodyguard," and "Hive." Additionally, the film "Gangneung," which it produced, is also on the verge of release.

To target the growing content market, Ascendio recently signed a memorandum of understanding (MOU) with real-time content solution company Giant Step. Based on Ascendio’s content planning capabilities and Giant Step’s real-time content technology, they plan to provide various metaverse content.

For future business expansion, new projects such as metaverse content production, studio town construction, and knowledge industry center development are also underway.

An Ascendio official said, "We sincerely thank the shareholders who believed in the company’s growth potential and participated in the paid-in capital increase," adding, "We will continue to do our best to enhance shareholder value through differentiated content production and strengthening new businesses."

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