[Market Focus] ICHC Hits New 52-Week Low on News of 9 Billion Won Rights Offering

ICHC is showing weakness in early trading.

As of 9:05 a.m. on November 24, ICHC was trading at 1,466 won, down 8.09% (129 won) from the previous trading day. During the session, the price fell to 1,462 won, marking a new 52-week low.

The company's announcement of a paid-in capital increase after market close last week is believed to have dampened investor sentiment.

ICHC decided on a rights offering followed by a public offering of forfeited shares, aiming to secure facility funds of approximately 9 billion won. A total of 8 million new common shares will be issued at 1,126 won per share.

The record date for the allocation of new shares is December 24, with approximately 0.47 new shares allocated per existing share. The newly issued shares are scheduled to be listed on February 25 next year.

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