SG CEO Park Changho Oversubscribes 120% of Allotted Rights, Demonstrating Commitment to Responsible Management

SG, a company specializing in asphalt concrete, announced on September 4 that CEO Park Changho has actively participated in the ongoing rights offering.

According to the company, CEO Park subscribed to 120% of his allotted shares. This represents the maximum level of subscription allowed, underscoring his confidence in the company's mid- to long-term growth potential and his commitment to responsible management.

SG is currently conducting a rights offering through a general public offering of forfeited shares after an allocation to existing shareholders. The company plans to use the funds raised to expand production bases in the Seoul metropolitan area, to invest in overseas businesses including Indonesia, and to secure raw materials for its key growth businesses. Through these initiatives, SG aims to strengthen its domestic production and supply competitiveness while accelerating its entry into the overseas road infrastructure market.

CEO Park stated, "My oversubscription in the rights offering was based on my strong confidence in the company's mid- to long-term growth and the expansion of our future businesses. I will do my best to enhance corporate value by proactively investing the funds raised in major growth projects."

Meanwhile, CEO Park currently holds 70% of the stock warrants allocated to him after some adjustments to his initial allotment. He oversubscribed based on his current holdings.

This content was produced with the assistance of AI translation services.