Fantagio, 8 Billion KRW Third-Party Allocation Paid-in Capital Increase

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] Fantagio announced on the 21st that it has decided to conduct a third-party allotment paid-in capital increase to raise approximately 8 billion KRW for operating funds.

New shares totaling 14,761,460 common shares will be issued at 542 KRW per share. The third-party allotment recipients are Mirae I&G (the largest shareholder, 7,380,730 shares) and Artist Cosmetic (a related party, 7,380,730 shares). The company stated, "This capital increase is intended to raise operating funds."