SG Attracts KRW 604.5 Billion in Subscriptions for Public Offering of New Shares, Plans to Expand Production Bases with Proceeds

[Financial News] SG, a company specializing in asphalt concrete, attracted subscription funds totaling KRW 604.5 billion in a public offering of unsubscribed shares from its paid-in capital increase.
According to the financial investment industry on the 11th, SG disclosed the previous day that KRW 604,511,668,740 in subscription funds had been received in the public offering of remaining unsubscribed shares held on the 8th and 9th.
Based on the allocation amount of KRW 1.3688 billion, the subscription ratio reached 441.63 to 1. In the subscription by existing shareholders held earlier on the 3rd and 4th, 96.34% of the total offering was subscribed.
A total of 41 million new shares will be issued through this paid-in capital increase. The payment of the capital-increase proceeds, totaling KRW 37.4 billion, is being processed today. The new shares will be listed on the 29th.
SG plans to use the funds raised to expand its asphalt-concrete production bases in the Seoul metropolitan area, invest in its local business in Indonesia, secure raw materials, and improve its financial structure.
An SG representative stated, "We plan to strengthen the competitiveness of our domestic and overseas businesses by using the funds raised."
Meanwhile, SG, a KOSDAQ (Korea Securities Dealers Automated Quotations)-listed company, was trading at KRW 1,199 as of 12:53 p.m. today, down 5.81% from the previous trading day.
[email protected] Lim Sang-hyeok Reporter