H&B Design Successfully Raises 35.1 Billion KRW in Capital Increase... "Resolving Reasons for Designation as a Management Item"

[Asia Economy Reporter Hyunseok Yoo] H&B Design announced on the 29th that it has resolved the issue of being listed as a management item by successfully completing a paid-in capital increase through a 35.1 billion KRW shareholder priority offering followed by a general public offering.

H&B Design received subscriptions totaling 35.1 billion KRW out of the 37.3 billion KRW paid-in capital increase conducted until the 28th. The subscription rate from existing shareholders was 44.81% (16.7 billion KRW). The general public offering subscription rate was 89% (18.4 billion KRW). Combining the existing shareholders and general public subscriptions, 35.1 billion KRW (94.03%) out of 37.3 billion KRW was subscribed.

The company analyzed that this paid-in capital increase was influenced by the active commitment of the largest shareholder and management. The largest shareholder, Salutaris 1ho Investment Association, completed 100% subscription of the allocated 4.8 billion KRW. In the general public offering, Salutaris 1ho Investment Association subscribed 2.1 billion KRW, CEO Hyunwoong Lee 0.5 billion KRW, CEO Jeongok Lee 0.5 billion KRW, and other major shareholders, management, and strategic partners subscribed a total of 4.6 billion KRW.

A company official said, “Strategic partners and financial investors actively participated in the subscription, resulting in a satisfactory outcome,” and added, “This capital increase has resolved the reason for the designation as a management item.”

He continued, “On the 21st, a third-party allotment paid-in capital increase of 7 billion KRW was resolved for CEO Jeongok Lee and two others, and payment will be completed on the 30th. Considering this shareholder priority offering, a total capital of 42 billion KRW will be raised,” he explained.

CEO Hyunwoong Lee, who oversees management, emphasized, “Many shareholders showed trust in the company’s sincerity through subscriptions. The company is currently reviewing all possible measures to enhance shareholder value after the capital increase.”

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