Fantagio's Rights Offering General Subscription Competition Rate 161:1... "Positive Evaluation for OTT Market Entry with Video Content"

[Asia Economy Reporter Jang Hyowon] Fantagio explained that it received positive evaluations for its entry into the OTT market through video content business, showing a high subscription rate in the general public offering for forfeited shares after shareholder allocation.

Fantagio announced on the 11th that it recorded a subscription competition rate of about 161 to 1 in the general public offering for the paid-in capital increase conducted over two days on the 9th and 10th.

A Fantagio official said, "The success of this paid-in capital increase is the result of shareholders and general investors positively evaluating the company's expansion into the OTT market by securing various IPs and acquiring drama production companies to expand its business into video content."

He added, "The funds raised through the paid-in capital increase will be used to enhance the competitiveness of the core entertainment business by additionally recruiting actors and musicians with both talent and recognition, while expanding the business area into various content fields such as dramas and movies to leap forward as a comprehensive content company."

The refund and payment date for this capital increase is scheduled for the 14th, and the new shares are expected to be listed on the 28th of this month.