The space launch vehicle corporation INNOSPACE is pushing forward with a 47.1 billion won shareholder allotment capital increase, causing its stock price to be weak. INNOSPACE is also proceeding with a stock dividend of 0.5 shares for each share, but many investors seem concerned about value dilution due to the increase in the number of shares.
INNOSPACE's shares traded at 12,350 won on the KOSDAQ market at 9:13 a.m. on the 19th. The stock price fell by 21.93% (3,470 won) from the previous day. This is the lowest price since INNOSPACE was listed in July of last year.
INNOSPACE held a board meeting the previous day and resolved to increase capital. It plans to issue 4.3 million new shares, allocating them to existing shareholders and then conducting a public offering for any unsubscribed shares.
On October 29, the issuance price of the new shares will be finalized, and from November 3 to 4, existing shareholders will be able to subscribe. Following this, through the general public offering process, the new shares from the capital increase will be listed on November 21.
INNOSPACE will also carry out a stock dividend assigning 0.5 new shares for each existing share. The record date for the stock dividend will be November 14, and the new shares from the stock dividend are expected to be listed on December 4.
INNOSPACE plans to use the funds raised from this capital increase for debt repayment and investments in the Hanbit-Nano launch site and production facilities.