[Featured Stock] CJ CGV Rises on Premium Issuance in Rights Offering
CJ CGV is showing strength in the early trading session on the 21st.
As of 10:30 AM on the same day, CJ CGV's stock price is trading at 8,000 KRW on the KOSPI market, up 3.49% from the previous trading day.
In a disclosure announced after the market closed on the 18th, CJ CGV stated that it will conduct a paid-in capital increase of 444.4 billion KRW through a third-party allotment. It will issue 43,147,043 new shares at 10,300 KRW per share. This price represents a 24.2% premium compared to the reference stock price of 8,292 KRW.
Hot Picks Today
"Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- "Striking Will Lead to Regret": Hyundai-Kia Employees Speak Out... Uneasy Stares Toward Samsung Union
- Man in His 50s Arrested for Confining Girlfriend in Car After She Announced Breakup
- Assaulted by Elementary Student During Class... No Protection Due to 'Instructor' Status
- "If You Booked This Month, You Almost Lost Out... Why You Should Wait Until 'This Day' Before Paying for Flight Tickets"
Regarding this, a CJ CGV official said, "The current stock price is undervalued and does not reflect the intrinsic value of CGV. Considering the increased stock price volatility due to the paid-in capital increase, we added an appropriate premium." He added, "Please evaluate this exceptional premium issuance as part of responsible management and a shareholder-friendly decision."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
