STX Executes Large-Scale Third-Party Allotment Capital Increase

68 Billion Won Paid-in Capital Increase for Bumhan Industries
Conversion of Rehabilitation Claims into Equity for Korea Development Bank and Others

STX, a KOSPI-listed company, decided on September 16 to carry out a large-scale third-party paid-in capital increase to facilitate management rights transfer through a merger and acquisition (M&A) process and to convert rehabilitation claims into equity.

On the same day, STX disclosed that it would conduct a paid-in capital increase of 68 billion won targeting Bumhan Industries, the final acquirer in the M&A process. A total of 27.2 million new common shares will be issued at 2,500 won per share. Bumhan Industries is expected to become the new largest shareholder of STX following this paid-in capital increase.

Additionally, the company decided to issue 139,528,385 new common shares at 2,500 won per share to convert rehabilitation claims into equity. The main recipients are rehabilitation creditors such as Korea Development Bank (50,370,158 shares) and Seoul Guarantee Insurance (27,720,916 shares).

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

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