KOSDAQ-listed E8IGHT (E8) shares were weak early on the 6th. The decline is seen as stemming from the ability to "sell rights" to the new shares from the paid-in capital increase.
Selling rights means that an investor entitled to receive new shares sells in advance two trading days before the new shares are listed to lock in profits.
As of 9:40 a.m. on the 6th, E8 was trading at 1,354 won, down 221 won (14.03%) from the previous trading day. It fell to as low as 1,336 won early in the session, marking a 1-year low.
Earlier, Digital Twin platform company E8 carried out a shareholder-allotted paid-in capital increase worth 9.3 billion won, issuing 7 million new shares at 1,334 won per share. The subscription rate by existing shareholders was 59.61%, and the remaining unsubscribed shares were absorbed through a public offering to general investors.
The new shares from the paid-in capital increase will be listed on the 8th. Starting today, two trading days prior, investors can sell the rights.
E8 plans to use the funds raised through the paid-in capital increase for operating funds and debt repayment, among other purposes.