[Market Focus] Sigitronics Plunges 17% on News of 8 Billion Won Rights Offering

Sigitronics is experiencing weakness in early trading.

As of 9:05 a.m. on October 16, Sigitronics was trading at 5,420 won, down 17.50% (1,150 won) from the previous day.

The company’s decision the previous day to conduct a rights offering worth 8 billion won appears to have dampened investor sentiment. In after-hours trading the day before, the stock even hit its lower limit.

1.8 million new common shares will be issued at 4,435 won per share, with 3.4 billion won allocated for facility funds and 4.583 billion won for operating funds.

The record date for the allocation of new shares is November 17, with approximately 0.386 new shares allocated per existing share.

The issue price will be finalized on December 15, and existing shareholders can subscribe on December 18 and 19. The new shares are scheduled to be listed on January 8 next year.