[Special Stock] Bukwang Pharm's Shares Plunge Over 13% Following 100 Billion Won Rights Offering

The stock price of Bukwang Pharmaceutical plummeted on the 28th. It is interpreted that the selling pressure concentrated after the decision to conduct a paid-in capital increase worth 100 billion KRW.

As of 2:20 PM on the day, Bukwang Pharmaceutical was trading at 3,910 KRW, down 590 KRW (13.11%) from the previous trading day.

On the same day, Bukwang Pharmaceutical held a board meeting and resolved to conduct a paid-in capital increase worth 100 billion KRW. The funds raised through the paid-in capital increase will be used for expanding existing manufacturing facilities, acquiring new manufacturing equipment, and revitalizing research and development.

This paid-in capital increase will be conducted through a rights offering to existing shareholders followed by a general public offering of any unsubscribed shares. The new shares will be allocated based on the record date of June 2, and the final issue price will be determined on July 3. Subsequently, employee stock ownership, existing shareholders, and general subscription will proceed, with the new shares expected to be listed by July 28.

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