Genko Raises 3.5 Billion Won Through Rights Offering... Third-Party Allotment to Creo SG and Others
On May 7, Genko announced that it has decided to issue new shares through a third-party allotment to raise approximately 3.5 billion won, including funds for debt repayment.
A total of 1,230,226 common shares will be issued at 2,845 won per share. The third-party allottees are the largest shareholder, Creo SG Co., Ltd., which will receive 639,718 shares, and the affiliate, Creo Estate Co., Ltd., which will receive 411,247 shares, among others.
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The company stated that the purpose of the third-party allotment is to "improve the financial structure through capital conversion (debt offsetting)."
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