[Featured Stock] L&K Bio's 'Capital Increase' Hits 52-Week Low... Down 21%
LNKBio plunged more than 20% during trading, hitting a 52-week low.
At 9:28 a.m. on the 15th, LNKBio was trading at 5,770 KRW, down 21.28% from the previous trading day. The company's stock price sharply dropped to 5,590 KRW early in the session, marking a 52-week low.
The cause of the sharp decline in stock price is the news of a large-scale rights offering. On the 12th, the company announced that it would raise 36.6 billion KRW through a rights offering followed by a general public offering of unsubscribed shares to secure operating funds and debt repayment funds. The newly issued shares amount to 6,524,000, which corresponds to 48.6% of the total common shares before the capital increase.
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The planned issue price for the new shares is 5,610 KRW, and the expected listing date for the new shares is July 28.
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