[Alpha Biz=(Chicago) Reporter Paul Lee] Taihan Cable & Solution plunged more than 16% during trading on the 15th.

As a result of the closing of the stock market, Taihan Electric Wire closed at 10,020 won, down 1,990 won (-16.57%) from the previous day. The industry interprets that the plunge in Taihan Cable & Solution's stock price was adversely affected by the news of shareholder allocation capital increase reported the previous day.

Taihan Cable & Solution announced on the 14th that it has decided to increase its paid-in capital in the form of a general public offering of disqualified shares after allocating shareholders worth 525.8 billion won after closing the market. The funds raised from the capital increase will be used to invest in facilities such as undersea cable plants and overseas plants.

The new shares are issued at 62 million shares, with an estimated price of 8,480 won per share. The base date for the allocation of new shares is January 18 next year and the scheduled date for listing new shares is March 21 next year.

 

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