[Featured Stock] "New Growth Engine Investment"... Meta Labs Hits Upper Limit on 30 Billion KRW Capital Increase News

[Asia Economy Reporter Ji Yeon-jin] Meta Labs is hitting the daily price limit on the 27th following the announcement of a 30 billion KRW third-party allotment paid-in capital increase.

Meta Labs is trading at 928 KRW, up 214 KRW (29.97%) from the previous trading day’s closing price since the market opened today.

Earlier, on the 24th, Meta Labs disclosed that it decided to raise 30 billion KRW through a third-party allotment paid-in capital increase to fund the acquisition of securities from other companies.

The third-party allotment recipient is Wever Labs, which is 100% owned by Chairman Lee Jong-woo, the largest shareholder.

Fifty million common shares will be newly issued at a price of 600 KRW per share. The new shares are scheduled to be listed on the 19th of next month. The issued shares will be under a one-year lock-up period. After the capital increase, Chairman Lee Jong-woo and Wever Labs will hold a combined total stake of 49.22%.

A Meta Labs representative stated, "By securing a solid position as the largest shareholder, we will accelerate the activation of medical sector businesses and lay the foundation for future growth engines."