[Market Focus] Innospace Drops Over 15% After 82.5 Billion Won Capital Increase Announcement
Innospace is experiencing a sharp decline following the announcement of a rights offering worth 82.5 billion won.
As of 9:20 a.m. on March 26, Innospace was trading at 15,090 won, down 2,710 won (15.22%) from the previous day.
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The previous day, Innospace announced that it had decided on a paid-in capital increase of approximately 82.5 billion won. The funds raised will be used for facility investments (6.65 billion won), operating capital (60.81 billion won), and debt repayment (15 billion won). A total of 7 million new shares with a par value of 1,000 won per share will be issued through a shareholder allotment and general public offering of forfeited shares. The new shares are scheduled to be listed on June 25.
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