[Featured Stock] L&K Bio's 'Capital Increase' Hits 52-Week Low... Down 21%

LNKBio plunged more than 20% during trading, hitting a 52-week low.

At 9:28 a.m. on the 15th, LNKBio was trading at 5,770 KRW, down 21.28% from the previous trading day. The company's stock price sharply dropped to 5,590 KRW early in the session, marking a 52-week low.

The cause of the sharp decline in stock price is the news of a large-scale rights offering. On the 12th, the company announced that it would raise 36.6 billion KRW through a rights offering followed by a general public offering of unsubscribed shares to secure operating funds and debt repayment funds. The newly issued shares amount to 6,524,000, which corresponds to 48.6% of the total common shares before the capital increase.

The planned issue price for the new shares is 5,610 KRW, and the expected listing date for the new shares is July 28.