LS Marine Solution Approves 278.3 Billion Won Capital Increase for Submarine Cable Laying Vessel Investment
0.62 New Shares Allocated per Existing Shareholder
LS Marine Solution is planning a large-scale capital increase to raise funds for the construction of a submarine cable laying vessel. On May 26, LS Marine Solution announced a paid-in capital increase plan worth 278.2854 billion won.
This capital increase will be conducted through a rights offering to existing shareholders, followed by a public offering of forfeited shares. The number of new shares to be issued is 19,570,000, and the issue price per share has been set at 14,220 won. The final issue price will be determined through a two-step calculation process and confirmed on July 30, with the new shares scheduled to be listed on August 28.
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Existing shareholders will be allocated 0.62 new shares for each share they currently hold. The company stated that it plans to invest approximately 345.8 billion won of the raised funds in the construction project for a submarine cable laying vessel (CLV).
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