Vessel's Rights Offering Subscription Rate Hits 4945%, Achieving Success

Vessel announced on the 14th that it has successfully completed the rights offering subscription conducted this month.

According to the Financial Supervisory Service's electronic disclosure system, Vessel achieved a subscription rate of 4945.8% in the rights offering completed on the 12th. Out of a total募集 of 13,370,919 shares, 641,851,981 shares were oversubscribed, bringing the cumulative subscription shares to 655,222,900 shares.

The scheduled listing date for the new shares from this rights offering is January 2, 2024, and Vessel plans to focus on improving the company's structure following the successful fundraising.

A company representative stated, "We sincerely thank all shareholders who trusted the company and actively participated in the subscription," adding, "We will repay our shareholders by achieving future performance growth through the full-scale launch of our business to meet their support and expectations."

Meanwhile, Vessel was the first in the industry to develop an OLED inline system in 2013. Subsequently, it supplied equipment to eight major panel companies and about 24 factories in China, securing the number one market share. Notably, it has a track record of supplying OLED equipment to its major client BOE. This equipment includes USC and UV cleaner devices that remove organic and inorganic particles attached to the glass surface, significantly reducing defects, as well as oven equipment that enhances glass drying effects.

A company representative said, "According to Precedence Research, the global OLED market size is expected to reach $259.67 billion (approximately 342.764 trillion KRW) by 2032," adding, "Following BOE's recent announcement of an approximately 11 trillion KRW investment in 8.6-generation OLED, our company also plans to respond actively."