Sonid to Conduct 10 Billion KRW Paid-in Capital Increase Targeting Major Shareholder JWIMirae Technology Company

[Asia Economy Reporter Jang Hyowon] SonyD (formerly YapX), a company listed on KOSDAQ, announced on the 2nd that it has decided to proceed with a third-party allotment paid-in capital increase worth 10 billion KRW targeting its largest shareholder, JW Future Technology Company. The payment date is scheduled for the 2nd of next month.

With the issuance of 12,853,470 new shares in this capital increase, JW Future Technology Company's ownership stake in SonyD is expected to rise from 18.16% to 27.57%.

The company stated that the reason behind this capital increase is to strengthen management control by expanding the largest shareholder's stake, while also aiming to enhance external business competitiveness using the secured funds.

Choi Simyeong, CEO of SonyD, said, “This year, we are pursuing sales diversification based on high value-added new businesses such as quantum dot display (QD) and organic light-emitting diode (OLED) materials, as well as anode binders for secondary batteries. In addition to the fintech business with Connect, a specialized electronic payment agency company, we are actively planning various new business developments through our recently acquired subsidiary, FD Display. We intend to continue efficient investments across all business fronts.”

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