Taeyoung Construction, Third-Party Allocation Paid-in Capital Increase... "For Financial Structure Improvement"

Taeyoung Construction announced on the 11th that it has decided to conduct a third-party allotment rights offering.

Taeyoung Construction will raise 632.93 billion KRW by issuing 273,995,695 new shares at 2,310 KRW per share. The third-party allotment recipients include TY Holdings Co., Ltd. (173,161,730 shares) and Korea Development Bank (34,199,134 shares), among others.

Taeyoung Construction stated, "We decided on a third-party allotment rights offering to achieve capital expansion, including improving the financial structure through debt-to-equity conversion."