LS Marine Solution, Plummets Over 7% Due to Large-Scale Rights Issue [Feature Stock]

[Financial News] LS Marine Solution's stock price is plummeting in early trading on the 27th as it decides on a large-scale rights issue for shareholders.
This morning at 10:09, LS Marine Solution's stock price is trading at 17,870 won, down 7.98% compared to the previous trading day. At one point during the day, LS Marine Solution's stock price fell to 17,060 won.
The decision on a large-scale rights issue is interpreted as cooling investor sentiment.
After the market closed the previous day, LS Marine Solution announced that it had decided on a rights issue through a shareholder allocation followed by a general public offering of forfeited shares, amounting to 278.3 billion won, to raise facility funds. The newly issued shares through the rights issue amount to 19.67 million shares, accounting for 60% of the total issued shares. Typically, a rights issue is interpreted as a negative factor in the market as it dilutes the value of existing shareholders' equity.
LS Marine Solution plans to invest the funds raised from the rights issue into new facilities for the construction of a CLV (Submarine Cable Laying Vessel).



hippo@fnnews.com Kim Chan-mi Reporter