[This Week's Paid-in Capital Increase] Public Offering Schedule for the Fourth Week of May

[Asia Economy Reporter Yoo Hyun-seok] In the fourth week of this month (May), Maniker F&N will conduct a rights offering subscription.

Maniker F&N will carry out the subscription for existing shareholders and oversubscription from the 28th to the 31st. Then, from the 2nd to the 3rd of next month, a general public offering subscription will be held. Through this rights offering, a total of 5 million shares will be issued. This accounts for approximately 46.43% of the total issued shares of 10,768,000 shares.

The fixed issue price is 4,805 KRW per share, raising a total of 24.025 billion KRW. Of the funds raised, 9.68 billion KRW will be used for facility funds such as equipment expansion and replacement. Additionally, 10.5 billion KRW will be allocated for debt repayment including loan repayments, and the remaining 3.917 billion KRW will be used as operating funds for raw material purchases and new product development costs.

Maniker F&N was established in 2004. It is a meat processing food specialist company producing products by processing poultry, pork, beef, and other meats. It has secured major franchises and catering companies as clients, including McDonald's, Lotteria, Burger King, as well as Samsung Welstory, Hyundai Green Food, and CJ Freshway. In the first quarter, it recorded sales of 20.8 billion KRW and an operating profit of 700 million KRW, which decreased by 11.79% and 14.98% respectively compared to the same period last year.