Mr. Pizza MP Group Completes 20 Billion Won Paid-in Capital Increase

[Asia Economy Reporter Hyungsoo Park] MP Group, the franchisee of Mr. Pizza, announced on the 4th that the payment for a 20 billion KRW capital increase has been completed.

The Korea Exchange KOSDAQ Market Committee will decide whether to resume trading of MP Group through the continuation of the Corporate Review Committee.

MP Group's trading was suspended in 2017 due to a listing eligibility review following embezzlement and breach of trust charges. As the previous largest shareholder disposed of their shares, a restructuring private equity fund became the new largest shareholder. Chairman Yang Hee-kwon of Perakana Chicken was appointed as the new CEO and is making efforts to normalize management.

MP Group sold about 5 billion KRW worth of treasury shares to raise operating funds.