[Featured Stock] Air Busan Plummets on Decision for 200 Billion KRW Rights Offering

[Photo by Air Busan] [Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] Air Busan is experiencing a drop of over 14% during trading following the decision to proceed with a paid-in capital increase worth 200 billion KRW.

As of 10:04 AM on the 2nd, Air Busan is trading at 1,885 KRW, down 14.12% compared to the previous trading day.

Earlier, on the 31st of last month, Air Busan announced that it had decided to carry out a paid-in capital increase worth 200.1 billion KRW through a rights offering to shareholders followed by a general public offering of forfeited shares to raise operating funds and repay debts. Additionally, on the same day, Air Busan announced that it had decided to implement a free capital reduction to improve its financial structure by reducing the currently issued 190 million common shares by one-third.