Vessel Completes 100% Payment by Largest Shareholder in Priority Shareholder Offering

KOSDAQ-listed company VESSEL Co., Ltd. announced on the 8th that its largest shareholder, THE E&M Co., Ltd., has completed 100% participation in the subscription of existing shareholders in the shareholder priority public offering.

VESSEL completed the shareholder priority public offering subscription for existing shareholders over two days from the 6th to the 7th, and THE E&M Co., Ltd., the largest shareholder, paid the subscription deposit corresponding to 100% of the allocated shares, approximately 1.69 million shares. THE E&M Co., Ltd. currently holds about 1.66 million shares.

A representative from THE E&M stated, “We decided to participate this time based on our responsibility as the largest shareholder and the potential for VESSEL’s improvement,” adding, “We expect that by utilizing the funds from this shareholder priority public offering, VESSEL will establish a more stable financial structure in 2024 and leverage the performance of its subsidiaries and affiliates as a stepping stone for a new leap forward.”

During the existing shareholder subscription period, a total of 4,334 existing shareholders, including THE E&M Co., Ltd., the largest shareholder, participated in the subscription for a total of 6,082,650 shares, achieving a participation rate of 45.47%. The unsubscribed shares will be offered to the general public from the 11th to the 12th. The participation method is the same as that for the existing shareholder subscription.

A company representative said, “Starting with THE E&M’s 100% subscription participation as the largest shareholder, we expect continued participation from existing shareholders,” and added, “Considering the increasing inquiries from new general investors and shareholders about the subscription schedule for the unsubscribed shares, we anticipate significant interest and participation from many existing and new shareholders.”