SL Bionics Completes Payment for 4.1 Billion KRW Third-Party Allocation Capital Increase

[Asia Economy Reporter Jang Hyowon] SL Bionics announced on the 27th that the payment for a third-party allotment capital increase worth approximately 4.1 billion KRW for operating fund procurement has been completed.

The issued shares are 1,529,850 registered common shares with an issue price of 2,680 KRW per share.

The recipient of the issuance is the current largest shareholder, SL Holdings Company. With the payment of 4.1 billion KRW completed in this capital increase, the company's total holdings increased significantly from 739,860 shares (9.86%) to 2,269,710 shares (24.11%).

An SL Bionics official stated, "Through this capital increase, we have secured approximately 4.1 billion KRW in operating funds," and added, "We will do our best to enhance profitability and strengthen financial stability by utilizing the procured funds according to our mid- to long-term business goals."

Meanwhile, SL Bionics recently announced that it has finalized the acquisition of 100% equity in the eco-friendly petroleum fuel company Woosung Industry for 35 billion KRW to restructure its business and turn operating profit positive.