Hoban Industries Fully Subscribes to Allocated Shares in Daehan Electric Wire Rights Offering

[Asia Economy Reporter Lee Seon-ae] Daehan Electric Wire announced on the 12th that its largest shareholder, Hoban Industrial, will participate in Daehan Electric Wire's paid-in capital increase to secure growth investment funds.

Hoban Industrial plans to subscribe to all of the approximately 156.46 million shares, which is 100% of the shares allocated to existing shareholders. Based on the scheduled issue price (1,290 KRW per share), this amounts to approximately 201.8 billion KRW.

Hoban Industrial, the largest shareholder holding a 40% stake in Daehan Electric Wire, will subscribe to all allocated shares and maintain its existing shareholding ratio after the paid-in capital increase.

Daehan Electric Wire is conducting a paid-in capital increase worth 55 billion KRW through a general public offering of unsubscribed shares after the shareholder allocation.

The funds raised through the paid-in capital increase will be used for facility investments such as building an undersea cable factory and securing local factories in global markets including Saudi Arabia and the United States.