Secured 19.2 Billion KRW Through Paid-In Capital Increase
Debt Ratio Improved to 53%
Hyungji Global announced on the 17th that its public offering for a paid-in capital increase was successfully completed, attracting a total of 828.5 billion KRW in subscription funds.
Hyungji Global explained that during the subscription period for general investors held on July 15 and 16, approximately 2.6 billion shares were subscribed for 1,440,266 shares offered, resulting in a competition rate of 17,976% (about 180:1). More than 180 times the general public offering amount of 4.6 billion KRW, a total of 828.5 billion KRW was raised.
Through this paid-in capital increase, Hyungji Global secured approximately 19.2 billion KRW in funds. Including the conversion of convertible bonds into shares, the company expects its debt ratio, which stood at 118% at the end of the first quarter, to be significantly reduced to about 53%.
Hyungji Global plans to strengthen domestic marketing in the second half of the year and accelerate its overseas market expansion strategy. The company aims to establish a stable management foundation through improved financial structure and to accelerate its mid- to long-term growth momentum.
A Hyungji Global representative stated, "Despite the economic slowdown, there was strong interest from existing shareholders in the subscription, and numerous inquiries from general investors followed. The results of this paid-in capital increase not only confirm the trust of existing shareholders but also reflect expectations for Hyungji Global's growth potential."
Following the paid-in capital increase, Hyungji Global is also conducting a free capital increase as part of its shareholder return policy for both existing and new shareholders. The company plans to allocate 0.5 new shares per existing share, and through this, it intends to clearly communicate its commitment to responsible management and enhanced management transparency.
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