[Featured Stock] Korean Air Hits 'Record High' Due to Rights Issue Illusion Effect

[Asia Economy Reporter Junho Hwang] Korean Air is rising by more than double digits due to the ex-rights effect of the rights offering.

As of 10:02 AM on the 25th, Korean Air is trading at 30,250 KRW, up 3,150 KRW (11.62%) from the previous day. On this day, Korean Air started at 28,200 KRW due to the ex-rights occurrence from the rights offering.

Korean Air is conducting a rights offering totaling 3.3159 trillion KRW, including 1.816 trillion KRW for debt repayment funds and 1.4999 trillion KRW for acquiring securities of other companies. The subscription schedule is as follows: the employee stock ownership association subscription will take place on March 4, and the existing shareholders' subscription will be from March 4 to 5. Korean Air’s newly issued 173.61 million shares can be preferentially purchased at a price lower than the current stock price. The planned issue price of the new shares is 19,100 KRW, and the final issue price will be confirmed on the 26th of next month.