Dynamic Design Attracts About 500 Billion Won in Public Subscription... Successful Rights Offering

[Asia Economy Reporter Jang Hyowon] Dynamic Design, a KOSPI-listed company, announced on the 24th that it succeeded in its rights offering by attracting about 500 billion KRW with a subscription competition rate of 496 to 1 in the general public subscription held on the 23rd.

The number of shares applied for was 147,061,600 shares, the subscription competition rate was calculated at 496.33 to 1, and the subscription deposit amounted to 496.3329 billion KRW.

This general public subscription was conducted for 296,296 registered common shares. The issue price was set at 3,375 KRW per share, which is 30% lower than the weighted arithmetic average stock price of 4,821 KRW.

Leveraging the success of this rights offering, the company plans to use the funds for overall operating capital, including securing liquidity for establishing overseas subsidiaries and investments.

Dynamic Design mainly operates in tire molds and tire manufacturing equipment. It targets the global market rather than the domestic market, reportedly selling more than 80% of its total sales to overseas tire manufacturers. Its market capitalization reaches approximately 24 billion KRW.

A representative of Dynamic Design stated, “Through the success of this rights offering, we have secured the operating funds necessary to expand the export market for tire manufacturing equipment, including investments for establishing overseas subsidiaries and acquiring core competencies. We will accelerate business promotion, which had slowed due to the impact of COVID-19, and repay with corporate growth and enhancement of shareholder value.”