Kumho Construction Decides on Third-Party Allocation Capital Increase Worth 6.9 Billion KRW

Kumho Construction announced on the 25th that it has decided on a third-party allotment capital increase worth 6.9 billion KRW.

New shares of 43,165 common stocks will be issued at 160,900 KRW per share. The third-party allotment recipients are Shinhan Bank (17,290 shares), NongHyup Bank (17,253 shares), and DB Life Insurance (8,622 shares), among others.

The company explained the purpose of the third-party allotment capital increase as "improving financial soundness through debt-to-equity conversion."