[Special Stock] Cha Biotech Hits 52-Week Low Amid 250 Billion KRW Capital Increase

Cell and gene therapy company Cha Biotech recorded a 52-week low after deciding on a 250 billion KRW rights offering.

As of 10:17 AM on the 23rd, Cha Biotech is trading at 10,870 KRW, down 26.85% from the previous session.

On the 20th, Cha Biotech announced that it decided on a rights offering followed by a general public offering of forfeited shares to raise approximately 250 billion KRW for operating funds and other purposes. A total of 23,148,150 new common shares will be issued at 10,800 KRW per share.

Of the funds raised through this rights offering, Cha Biotech plans to use 120 billion KRW for operating funds, 110 billion KRW for acquiring securities of other companies, and 20 billion KRW for facility investments.