STX Executes Large-Scale Third-Party Allotment Capital Increase

67 Billion Won Allocated to Bumhan Industries
Conversion of Rehabilitation Claims from Korea Development Bank and Others into Equity

STX, a KOSPI-listed company, decided on a large-scale third-party allotment capital increase on September 16 to sell controlling shares through merger and acquisition (M&A) and to convert rehabilitation claims into equity.

On this day, STX announced through its disclosure that it would carry out a capital increase worth 67 billion won, allocating newly issued shares to Bumhan Industries, the final acquirer in the M&A process. A total of 27.2 million common shares will be issued at 2,500 won per share. Following this capital increase, Bumhan Industries is expected to become the new largest shareholder of STX.

Simultaneously, STX also resolved to issue 139,528,385 new common shares at 2,500 won per share through a capital increase. The main allocation targets are rehabilitation creditors, such as the Korea Development Bank (50,370,158 shares) and Seoul Guarantee Insurance (27,729,916 shares).

The company stated that the purpose of this third-party allotment is "conversion of rehabilitation claims into equity and improvement of the financial structure in accordance with the approved rehabilitation plan."

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