[Hot Stock] Jeju Air Plummets Over 10% Following Decision on 320 Billion KRW Rights Offering

[Asia Economy Reporter Myunghwan Lee] Jeju Air is experiencing a sharp decline in the early trading session on the 29th. This appears to be due to the company's decision to proceed with a paid-in capital increase worth 320 billion KRW.

As of 9:22 AM, Jeju Air is trading at 14,750 KRW, down 10.88% (1,800 KRW) from the previous trading day. Shortly after the market opened, Jeju Air's stock price fell to as low as 14,000 KRW, breaking its 52-week low record.

Jeju Air announced on the 26th that it had decided to conduct a paid-in capital increase worth 320 billion KRW. The total number of new shares to be issued through this capital increase is 27,234,043 shares. The expected issue price per share is 11,750 KRW.

Jeju Air plans to use the funds raised from the paid-in capital increase for the introduction of next-generation aircraft and other purposes.

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