Kosdaq-listed E8 (E8IGHT) fell in early trading on the 30th, as investor sentiment appeared to worsen on news that it decided on a large paid-in capital increase.
As of 10:37 a.m. that day, E8 was trading at 2,590 won, down 1,040 won (28.65%) from the previous session.
E8, a digital twin platform company, announced after the previous day's regular session close that it decided on a paid-in capital increase worth 16.8 billion won (7 million shares). It will proceed via a rights offering to existing shareholders followed by a public offering of forfeited shares. The tentative issue price is 2,400 won per share, which is 34% lower than the previous day's closing price (3,630 won).
E8 said it is carrying out this paid-in capital increase to raise operating funds. The record date for the rights offering is Nov. 10, and the new shares are scheduled to be listed on Jan. 8 next year.
Earlier, in December last year, E8 conducted a rights offering once, worth 9.1 billion won, to raise operating funds and funds for debt repayment. E8 was listed on the Kosdaq market on Feb. 23 last year.