[Market Focus] Innospace Plunges on News of 47 Billion KRW Paid-In Capital Increase... Hits Record Low

Innospace is experiencing a decline of over 22% following the announcement of a paid-in capital increase worth 47 billion KRW.

As of 9:16 a.m. on August 19, Innospace was trading at 12,340 KRW on the Korea Exchange, down 3,480 KRW (22.00%) from the previous day. During the session, the price fell to as low as 12,030 KRW, marking the lowest level since the company’s listing.

The previous day, Innospace disclosed that it had decided to carry out a paid-in capital increase through a rights offering followed by a public offering of forfeited shares, in order to raise funds for facilities, operations, and debt repayment, totaling 47 billion KRW. Of this amount, 10.136 billion KRW will be allocated for facilities, 26.949 billion KRW for operations, and 10 billion KRW for debt repayment.

The number of new shares to be issued is 4.3 million, with the listing date for these shares scheduled for November 21.

In addition, Innospace is proceeding with a bonus issue, issuing 6,838,437 common shares and 740,430 other types of shares. For both common and other shares, 0.5 new shares will be allocated for each existing share. The listing date for these new shares is scheduled for December 4.