iWin, iWinPlus Promise Oversubscription in Paid Capital Increase... "Aiming for Success"

[Asia Economy Reporter Jang Hyowon] IWIN, a specialized automotive parts company and the largest shareholder of IWINPLUS, has launched efforts to ensure the success of a rights offering.

On the 12th, IWIN announced that it has committed to an oversubscription for IWINPLUS's rights offering. If IWIN, as the largest shareholder, proceeds with a 120% oversubscription, its stake in IWINPLUS will increase to over 25%.

Through this oversubscription, IWIN plans to expand its control over IWINPLUS and establish a more organic cooperative system. Synergies are expected in the future between IWIN and its affiliates, including IWINPLUS's increased acquisition of shares in Pronics, a subsidiary of IWIN.

IWIN reliably supplies automotive parts such as seat heaters, ventilated seats, and ECUs to major domestic automakers. Leveraging innovative technologies from its subsidiaries?Pronics, which has secured AI voice recognition sensors and micro LED technology, and IWINPLUS, which possesses image sensor CSP technology?IWIN is focusing on leading the future automotive parts market.

An IWIN representative emphasized, “As the largest shareholder, we decided to commit to a 120% oversubscription to ensure the success of IWINPLUS's rights offering,” adding, “We will strengthen cooperative relationships with affiliates to become a core parts company in the electric vehicle and future car markets.”

Meanwhile, the subscription schedule for IWINPLUS's rights offering is set for two days for existing shareholders on the 21st and 22nd, followed by a two-day general public offering on the 26th and 27th.

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