Hoban Industries Fully Subscribes to Allocated Shares in Daehan Electric Wire Rights Offering

[Asia Economy Reporter Lee Seon-ae] Daehan Electric Wire announced on the 12th that its largest shareholder, Hoban Industrial, will participate in Daehan Electric Wire's paid-in capital increase to secure growth investment funds.

Hoban Industrial plans to subscribe to all of the approximately 156.46 million shares, which is 100% of the shares allocated to existing shareholders. Based on the scheduled issue price (1,290 KRW per share), this amounts to approximately 201.8 billion KRW.

Hoban Industrial, the largest shareholder holding a 40% stake in Daehan Electric Wire, will subscribe to all allocated shares and maintain its existing shareholding ratio after the paid-in capital increase.

Daehan Electric Wire is conducting a paid-in capital increase worth 55 billion KRW through a general public offering of unsubscribed shares after the shareholder allocation.

The funds raised through the paid-in capital increase will be used for facility investments such as building an undersea cable factory and securing local factories in global markets including Saudi Arabia and the United States.

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