[Special Stock] Isu Petasys Rises 7% on News of Rights Offering Rejection

Stock Price Rises After FSC's Correction Demand
Controversy Over Surprise 500 Billion Won Rights Offering

Isu Petasys is showing strong performance. It appears to be influenced by the news that the rights offering was once again rejected.

As of 9:15 AM on the 24th, Isu Petasys is trading at 28,300 KRW, up 7.40% (1,950 KRW) from the previous trading day. It reached a high of 29,400 KRW early in the session and is currently undergoing a slight correction. This is the highest stock price since December.

The day before, the Financial Supervisory Service announced that it had requested Isu Petasys to submit a corrected report for the rights offering. The effectiveness of the report is suspended from the day the correction is requested. Furthermore, if the company does not submit the corrected report within three months after receiving the submission request, it is considered withdrawn.

Previously, Isu Petasys sparked controversy by abruptly proceeding with a 500 billion KRW rights offering allocated to shareholders. The stated purpose was to raise funds to acquire the secondary battery company J-O. However, since this is unrelated to the semiconductor substrate business and the rights offering was announced belatedly, it provoked backlash from shareholders. Although a corrected report was submitted on the 2nd following the Financial Supervisory Service's correction request, it has been halted once again.

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