Input 2021.01.22 15:52
According to the Electronic Disclosure System of the Financial Supervisory Service on the 22nd, Korean Air will raise 3,331.5 billion won, an increase of 800 billion won from the existing 2.5 trillion won in paid-in capital increase.
The increase in the amount of paid-in capital increase is due to the recent rise in Korean Air’s share price and the expected new share price increase from KRW 14,400 to KRW 19,100. Korean Air’s share price was 2,6950 won on November 16, last year when it announced its acquisition of Asiana Airlines, but it was 34,950 won based on the closing price of the day. It rose about 29.68% over two months.
Korean Air plans to use 1,815.9 billion won as debt repayment funds out of 3,315 billion won, which has increased due to the expansion of the capital increase. It plans to use 1.5 trillion won to acquire a stake in Asiana Airlines.
The new share issuance price will be confirmed on the 26th of next month. The size of new shares issued through a paid-in capital increase remains unchanged at 173.6 million. The scheduled subscription date for the employee stock ownership association and the old shareholders is March 4, and the new stock listing date is March 24. Savior subscription is held for two days from March 4th to March 5th. The delivery date is March 12.