Smart Radar System is strong at the beginning of the session on the 3rd. The news of a capital increase worth 6 billion won targeting LG Innotek has raised expectations for performance, leading to an influx of buying.
As of 9:10 a.m. on that day, Smart Radar System is trading at 9,870 won, up 1,710 won (20.96%) from the previous trading day.
Smart Radar System, which develops radar for autonomous vehicles and special vehicles, announced that it decided to conduct a third-party allocation capital increase targeting LG Innotek after the regular market closed the previous day. It will issue 807,770 shares at 7,326 won per share. If the payment is completed by December 1, the new shares are expected to be listed on December 16. LG Innotek has agreed to hold all of the newly issued shares for one year.
Regarding the purpose of the capital increase, the company noted it is for "financing operating funds." The company said, "We intend to invest intensively in research and development to explore new business opportunities and secure future growth drivers."