Ascendio "Major shareholder Pacific Industry acquires additional shares... Strengthening responsible management"

[Asia Economy Reporter Hyunseok Yoo] Ascendio, a comprehensive content company, announced on the 19th that its largest shareholder, Pacific Industry, acquired 399,638 shares for 1 billion KRW. Pacific Industry's stake in Ascendio increased by approximately 0.49 percentage points, from 39.13% to 39.62%.

Pacific Industry's stock purchase was made based on the judgment that Ascendio was undervalued from a long-term perspective. Ascendio successfully completed its general subscription for a paid-in capital increase held on the 8th and 9th, recording a final subscription competition rate of 951.1 to 1. Through this public offering, Ascendio secured approximately 30.7 billion KRW in funding, which was its target amount.

The company evaluated that the expansion of the largest shareholder's stake and the success of the paid-in capital increase reflected market expectations for the content business. Ascendio, a comprehensive content company, has recently accelerated business diversification by producing various genre contents, including the movie "Gangneung" and the webtoon original "Hive." Additionally, the movie "Alienoid," starring Yoon Kye-sang, in which Ascendio participated as an investor, is scheduled to be released on the 24th.