BENO TNR surged straight to the daily upper limit at the start of trading on the 6th.
As of 9:21 a.m., BENO TNR was trading at 1,323 won, up 305 (29.96%) from the previous session.
The change in the largest shareholder and news of a 10 billion won paid-in capital increase appear to have boosted investor sentiment.
After the close on the 3rd, BENO TNR disclosed that it had signed a contract to transfer 4.78 million shares (a 12.75% stake) held by the largest shareholder, Ramicus, and one other party to ACRO New Technology Fund No. 241.
The acquisition price is 7,100 won per share, far above the current share price (1,223 won). It is seen as a signal that the new investor values the company higher than the current share price.
At the same time, news also emerged of a 10 billion won paid-in capital increase. BENO TNR decided on a third-party allotment paid-in capital increase to ACRO New Technology Fund No. 241, issuing 11.73 million new shares to raise 10 billion won.
The issue price of the new shares is 852 won, a 10% discount to the reference price (946 won). All new shares will be locked up at the Korea Securities Depository (KSD) for one year.
The company plans to use the funds raised for operating expenses.