TELCON RF PHARMACEUTICAL's stock price headed straight for the lower limit at the beginning of trading on the 29th. The impact of the sale of subscription rights for the paid-in capital increase is believed to be significant.
The sale of subscription rights refers to a situation where an investor with the right to receive new shares sells them in advance, two trading days before the shares are listed, to secure profits.
As of 9:27 a.m. on the 29th, TELCON RF PHARMACEUTICAL traded at 2,290 won, down 980 won (29.97%) from the previous trading day, marking the lower limit.
Earlier, TELCON RF PHARMACEUTICAL launched a capital increase with shareholder allocation, issuing approximately 10.82 million new shares at 3,835 won per share. The subscription rate among existing shareholders was 82.8%. The remaining unsubscribed shares were absorbed through a public offering.
The new shares from the paid-in capital increase will be listed on September 2. Subscription rights can be sold starting from this day, which is two trading days prior.