[Market Focus] SGA Hits Upper Price Limit for Third Day on Change of Largest Shareholder

As of 9:20 a.m. on July 16, SGA, an IT solutions company, was trading at 1,539 won, up 29.98% from the previous session's closing price. This marks the third consecutive trading day that SGA has hit the upper price limit, following a disclosure on July 14 regarding a third-party allotment capital increase involving a change in the largest shareholder and the addition of a virtual asset business to its articles of incorporation.

SGA is a comprehensive IT services company, primarily engaged in public sector system integration (SI), system management (SM), IT infrastructure construction, and the supply of products such as storage. The company also provides proprietary solutions owned by its affiliates SGA Solutions, VoiceEye, and SGN to public institutions and other clients.

On July 14, SGA announced plans to conduct a third-party allotment capital increase worth 34.5 billion won. A total of 58,862,249 new shares will be issued at 586 won per share. The participants include Asia Strategy Partners LLC, operated by global Web3 and blockchain venture capital firm Sora Ventures; Simon Gerovich, CEO of MetaPlanet and a renowned digital asset investor in Japan; and domestic investment firms KCGI and Pathfinder Holdings. Following the capital increase, Asia Strategy Partners will become SGA's largest shareholder.

Additionally, SGA announced it will hold an extraordinary general meeting of shareholders on September 10 to amend its articles of incorporation. The proposed amendments will add the following business purposes: acquisition, holding, management, and sale of digital assets (including virtual assets); development, distribution, and sale of blockchain-based assets and related technology R&D; and any activities, businesses, or operations directly or indirectly related, incidental, or helpful to achieving these purposes.

An SGA representative stated, "With the simultaneous participation of leading overseas innovative investors and top domestic private equity fund (PEF) managers, we have achieved not only capital procurement, but also the threefold benefits of a global network, management transparency, and enhancement of future-oriented corporate value." The representative added, "We expect this investment to expand our business opportunities in various markets."