On the 22nd in the morning, Amicogen shares are plunging more than 23%. Investor sentiment appears to have worsened on news of a paid-in capital increase disclosed after the close of the previous session.
As of 9:23 a.m. on the 22nd, Amicogen is trading on the KOSDAQ at 2,125 won, down 650 won (23.42%) from the previous session.
Earlier, Amicogen disclosed on the 19th that it had decided on a public offering paid-in capital increase worth 30 billion won. A total of 14,925,374 common shares will be issued as new shares. This is about 27% of the current total number of shares outstanding.
The issue price is 2,010 won. That is a 30% discount from the reference price. Amicogen disclosed that of the funds secured through this paid-in capital increase, 11.2 billion won will be used for operating funds and 18.7 billion won for debt repayment.