As the possibility of a large-scale equity offering decreases, ISU PETASYS's stock price is strong.
As of 9:23 a.m. on the 24th, ISU PETASYS is trading at 28,500 won, up 8.16% from the previous day.
The previous day, the Financial Supervisory Service required ISU PETASYS to revise the securities registration statement submitted for the equity offering.
It is interpreted that buying pressure is rising as expectations grow that ISU PETASYS may withdraw its equity offering.
Typically, a listed company must submit a securities registration statement to the financial authorities and get it approved; however, ISU PETASYS's process has been blocked.
The correction request from the FSS regarding ISU PETASYS marks the second instance following the first on the 2nd of this month. The FSS judged that important information was either omitted or unclear in ISU PETASYS's securities registration statement.
Last month, ISU PETASYS announced plans for an equity offering worth 550 billion won to acquire shares of J.O., a secondary battery materials corporation. However, it is currently blocked by the FSS.
For ISU PETASYS to proceed with the equity offering, it must submit a revised securities registration statement and receive approval from the FSS within three months. If it fails to submit the revised statement within this period, the equity offering will be considered null and void.