AT Semicon's Rights Offering General Public Subscription Competition Rate 83 to 1... "183.3 Billion Won Attracted"

[Asia Economy Reporter Jang Hyowon] AT Semicon has successfully completed a 30 billion KRW rights offering followed by a general public offering.

AT Semicon announced on the 5th that the final subscription rate for the general public offering of forfeited shares held over two days from September 30 to October 1 reached 82.95 to 1. Approximately 183.3 billion KRW in investment funds were raised against a forfeited share offering of about 2.2 billion KRW, marking a successful outcome.

Earlier, AT Semicon had completed about 92.63% of the capital increase funding through a rights offering to existing shareholders. The new shares issued through this capital increase are priced at 1,875 KRW per share, with refunds and payment deadlines on the 6th, and the listing scheduled for the 20th.

A company official stated, “The large-scale capital increase that has been underway since last April was successfully completed, receiving positive evaluations due to the semiconductor industry boom and business diversification through new business initiatives. High subscription rates were observed not only among major shareholders including the largest and second-largest shareholders with management participation stakes but also across existing shareholders, followed by high subscription rates in the general public offering of remaining forfeited shares.”

He added, “With the completion of this capital increase, which marks the end of the big bath initiated last year, we plan to focus on expanding orders in our core semiconductor back-end process business through securing raw materials, factory expansion, and investment in new equipment. Additionally, we aim to secure new growth engines by achieving tangible results in new businesses such as the bio sector currently being pursued.”

AT Semicon is expected to secure financial soundness through this large-scale capital increase following a capital reduction without compensation. Once the new shares are listed on the 20th, the capital stock is expected to increase by about 8 billion KRW, and short-term financial liabilities will be significantly reduced.