[Asia Economy Reporter Hyunseok Yoo] H&B Design announced that its largest shareholder, Salutaris No.1 Investment Association, invested 2 billion KRW, CEO Hyunwoong Lee invested 500 million KRW, CEO Jungok Lee invested 500 million KRW, and other major shareholders, management, and strategic partners subscribed a total of 4.6 billion KRW on the 27th.
On the 24th, H&B Design completed 100% subscription of the 4.8 billion KRW allocation assigned to the largest shareholder, Salutaris No.1 Investment Association, as a result of the preemptive rights paid-in capital increase worth 37.3 billion KRW. The company disclosed that the overall preemptive rights subscription rate among all shareholders was 44.81%.
A company official stated, "On the 21st, we resolved a third-party allotment paid-in capital increase of 7 billion KRW targeting CEO Jungok Lee and two others, and the payment has already been completed. Additional subscriptions from the company’s strategic partners are scheduled until the 28th, and we expect this to alleviate concerns about designation as a management item."
CEO Hyunwoong Lee, who oversees management, emphasized, "Many shareholders are showing trust in the company’s sincerity. The company is currently reviewing all possible measures to enhance shareholder value after the capital increase."
Meanwhile, H&B Design’s general public offering will proceed from today until the 28th.
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