Fantagio, a comprehensive entertainment corporation, was plunging early on the 7th on news that it decided on a public offering capital increase worth 16.9 billion won.
As of 9:22 a.m. that day, Fantagio shares were trading on the KOSDAQ market at 1,661 won, down 18.78% (384 won) from the previous session.
Earlier, on the 6th, Fantagio disclosed that it decided on a public offering capital increase worth 16.93 billion won. It is scheduled to proceed as a public offering method issuing 10 million new common shares, and the expected issue price will be calculated by applying a 10% discount to the reference share price.
Fantagio plans to use the secured funds as operating capital for musical, album, performance, and drama production costs.
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