[Market Focus] Iwinplus Drops 8% on News of 7 Billion Won Capital Increase

Iwinplus is showing weakness in early trading.

As of 9:05 a.m. on December 16, Iwinplus was trading at 1,426 won, down 8.24% (128 won) from the previous day.

The company appears to have dampened investor sentiment after announcing a third-party allotment capital increase after market close the previous day to raise approximately 6 billion won in operating funds for its KOSDAQ listing. A total of 5,132,591 new common shares will be issued at 1,169 won per share, with Fruit No.1 Fund as the third-party allotment recipient.

On the same day, Iwinplus also announced an additional third-party allotment capital increase to raise approximately 1 billion won in operating funds. A total of 980,392 new common shares will be issued at 1,020 won per share, with Classic Investment Fund as the third-party allotment recipient.