[Market Focus] Amicogen Hits Lower Limit on 30 Billion Won Rights Offering
Amicogen hit the lower price limit. This is believed to have been influenced by the news of a rights offering worth 30 billion won.
![[Market Focus] Amicogen Hits Lower Limit on 30 Billion Won Rights Offering](http://www.asiae.co.kr/news/img_view.htm?img=2024102409305871420_1729729858.jpg)
As of 2:57 p.m. on December 22, Amicogen was trading at 1,945 won, down 830 won (29.91%) from the previous trading day.
On December 19, Amicogen announced that it had decided to conduct a general public offering of new shares worth 30 billion won. A total of 14,925,374 common shares will be newly issued. This represents approximately 27% of the current total number of shares outstanding.
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The planned issue price is 2,010 won per share. Of the funds raised through this rights offering, Amicogen plans to use 11.2 billion won for operating funds and 18.7 billion won for debt repayment.
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