VUNO(338220) announced a plan for a paid-in capital increase worth 31.4 billion won on the 28th. VUNO said it plans to issue 6.3 million new common shares at a tentative price of 4,980 won per share.
After granting subscription rights to existing shareholders, if forfeited shares (shares that existing shareholders do not subscribe to in the paid-in capital increase) occur, the company plans a public offering. The record date for the allotment of new shares is Oct. 2. If forfeited shares remain after subscriptions from existing shareholders on Nov. 9-10, a public offering subscription will be held Nov. 12-13. The scheduled listing date for the new shares is Nov. 30.
Funds secured through the paid-in capital increase will be used to improve the financial structure. The company plans to repay perpetual convertible bonds with 20 billion won. It will invest 11.4 billion won as business funds, including research and development expenses.
Because a paid-in capital increase raises funds by issuing additional shares, it can affect the stock price in the short term, as existing shareholders' stakes may be diluted. A VUNO official said, "We will hold a shareholder meeting on the 4th of next month and explain the details to shareholders."