Wider Planet, 19 Billion Won Paid-in Capital Increase... Third-Party Allocation to Lee Jung-jae, Jung Woo-sung, and Others

Wider Planet announced on the 8th that it has decided to conduct a third-party allotment paid-in capital increase worth approximately 19 billion KRW to raise operating funds.

[Image source=Yonhap News]

New shares totaling 5,965,460 common shares will be issued at 3,185 KRW per share. The third-party allotment recipients include six individuals such as Lee Jung-jae (3,139,717 shares) and Jung Woo-sung (627,943 shares).

Wider Planet stated that the purpose of the third-party allotment is "to achieve the company's management objectives such as carrying out the intended business and improving the financial structure."