[This Week's Paid-in Capital Increase] September Third Week Public Offering Schedule

[Asia Economy Reporter Hyunseok Yoo] In the third week of this month (September), Air Busan and PHC will proceed with rights offerings.

◆Air Busan= Air Busan will conduct rights subscription for existing shareholders on the 17th and 23rd, followed by a general public subscription from the 27th to the 28th.

The finalized issue price is scheduled to be announced on the 15th. The first issue price is set at 2,150 KRW, aiming to raise a total of 240.5 billion KRW.

The secured funds will be used with 136.9 billion KRW for operating expenses and 103.6 billion KRW for debt repayment. Operating expenses include 13 billion KRW for personnel costs and 130.7 billion KRW for aircraft maintenance fees. Additionally, 103.6 billion KRW will be allocated to aircraft lease fees.

Established in 2007, Air Busan is a low-cost carrier (LCC) that has grown centered in Busan. It was listed on the KOSPI market in 2018.

◆PHC= PHC will conduct rights subscription and oversubscription for existing shareholders on the 17th and 23rd. A general public subscription will also be held on the 27th.

The finalized issue price is scheduled to be announced on the 15th. The first issue price is set at 2,030 KRW, aiming to raise a total of 77.1 billion KRW.

The secured funds will be invested with 41 billion KRW for facility funds and 34.7 billion KRW for operating funds. The facility funds will be used to purchase land for a new factory, the factory itself, and machinery and equipment. Operating funds will be used for product procurement.

PHC was established in 1998. At that time, its name was Topfield, focusing on manufacturing and selling digital set-top boxes. After being acquired by Philosis Life Science (now M Consulting) in May 2019, it expanded into the bio business and changed its name to Philosis Healthcare. It changed to its current name in March of this year.