[Alpha Biz=(Chicago) Reporter Kim Jisun] Lotte Chemical announced today (25th) that the subscription rate for paid-in capital increase for employee stock ownership associations and old shareholders, which was held for two days from the 19th to the 20th, recorded 101.75%.

The total number of shares issued was 8.5 million and the number of shares subscribed was 8.648954.

The employee stock ownership association subscribed 1,011,139 shares and the old shares 6,603,455 shares, respectively, and the excess subscription shares were 1,035,360 shares.

For 12,765 single shares that occurred after the excess subscription assignment, we will receive a general public subscription for two days starting tomorrow (26th).

The issue price of new shares is 143,000 won per share.

Earlier, Lotte Chemical decided to increase its paid-in capital by a total of 1.2155 trillion won to raise funds to acquire Iljin Materials, the nation's second-largest copper foil manufacturer.

Lotte Holdings, the major shareholder, and Lotte C & T, the second-largest shareholder, will invest 301.1 billion won and 235.3 billion won, respectively, to participate in the paid-in capital increase. 

 

Lotte Holdings has decided to acquire up to 120% of the amount allocated to old shareholders, including existing shareholders who give up their rights.

 

 

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