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[Alpha Biz=(Chicago) Reporter Kim Jisun] Dongguk Holdings will decide on a paid-in capital increase in kind and start a holding company system in earnest.
According to the electronic disclosure by the Financial Supervisory Service on the 28th, Dongkuk Holdings decided to proceed with a paid-in capital increase in the form of investment in kind at the board of directors meeting on the same day and to make a tender offer for the shares of Dongkuk Steel and Dongkuk CM.
It is a method of receiving shares issued by Dongkuk Steel and Dongguk CM shareholders in kind, and allocating shares of Dongguk Holdings to shareholders who made investments in kind in return. The lead tenderer is Daishin Securities.
Dongkuk Steel's public offering price is 9,540 won per share, which is equivalent to 17,977,881 registered ordinary shares. The open purchase price of one Dongguk CM stock is 7,390 won, which is 10,835,190 shares.
The subscription date is from the 27th of next month to October 16.
Dongguk Holdings started to buy shares of Dongkuk Steel and Dongguk CM because of the Fair Trade Act, which requires them to hold more than 30% of shares in subsidiaries (50% of unlisted companies) when converting to holding companies. As of the end of June, Dongguk Holdings' shares in Dongkuk Steel and Dongguk CM were 4.12%, respectively.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
