[Featured Stock] Midas AI Plunges 11% Amid Selling Pressure Following Rights Offering News
[Asia Economy Reporter Lee Seon-ae] Midas AI is experiencing a sharp decline as selling pressure continues in the early trading session following the news of a 66.3 billion KRW shareholder preferential public offering.
As of 9:28 AM on the 29th, Midas AI is trading at 1,655 KRW, down 11.26% from the previous trading day. It dropped to as low as 1,510 KRW in early trading.
Midas AI announced in a disclosure the day before that it will conduct a shareholder preferential public offering to raise funds for facility and operating expenses. The total number of shares to be issued is 39 million, with an expected issue price of 1,700 KRW. The record date for new share allocation is August 17, and the expected listing date is October 5.
Hot Picks Today
"Buy on Black Monday"... Japan's Nomura Forecasts 590,000 for Samsung, 4 Million for SK hynix
- "Not Everyone Can Afford This: Inside the World of the True Top 0.1% [Luxury World]"
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- "We're Now Earning 10 Million Won a Month"... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- Experts Are Already Watching Closely..."Target Stock Price 970,000 Won" Now Only the Uptrend Remains [Weekend Money]
A Midas AI representative explained, “This capital increase is aimed at strengthening the competitiveness of the new steel business, which will be the core of the company in the future, and stabilizing the financial structure.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
