Jeju Air Incorporated as a Subsidiary of AKIS, IT Affiliate of Aekyung Group
404 Billion KRW Third-Party Allocation Paid-in Capital Increase
Jeju Air held a board meeting on the 25th and announced that it resolved to incorporate AKIS, an IT service subsidiary of the Aekyung Group, as a subsidiary.
The incorporation will be carried out through a third-party allotment paid-in capital increase (contribution in kind) worth a total of 40.4 billion KRW, targeting the largest shareholders AK Holdings and Aekyung Asset Management.
The total number of issued shares is 3,647,274, and the issue price per new share is 11,080 KRW. The scheduled listing date for the new shares is December 13.
Jeju Air stated that by incorporating AKIS as a subsidiary, it aims to secure IT capabilities and gain a competitive edge over rivals in the digital environment.
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Additionally, based on the capital expansion effect from the contribution in kind, the company plans to improve financial soundness by reducing its debt ratio.
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