[Featured Stock] Ecopro HN Plummets on 200 Billion KRW Capital Increase... New Low
EcoPro HN is experiencing a sharp decline of over 11% following news of a 200 billion KRW rights offering. It hit a 52-week low during trading.
As of 9:07 AM on the 5th, EcoPro HN is trading at 40,550 KRW, down 5,100 KRW (11.17%) from the previous day. During the session, the price dropped to 40,300 KRW, setting a new 52-week low.
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On the previous day, EcoPro HN announced a decision to conduct a 200 billion KRW rights offering. The funds will be allocated for facility investment of 170 billion KRW and operating capital of 30.1 billion KRW. EcoPro HN stated that the rights offering aims to enhance its existing environmental business and expand into secondary battery and semiconductor materials. The rights offering will be conducted through a shareholder allocation followed by a general public offering of unsubscribed shares, with 5.67 million shares to be issued at a planned price of 35,300 KRW per share.
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