Korean Air to increase bequest scale by 800 billion won

Used for full debt repayment
Korean Air’s Boeing 787-9 aircraft. Photo | Korean Air

In the News Reporter Jeon Geon-wookㅣKorean Air has increased the amount of paid-in capital increase by 800 billion won to raise funds for the acquisition of Asiana Airlines.

According to the Electronic Disclosure System of the Financial Supervisory Service on the 22nd, Korean Air is recruiting 3,3315 billion won, an increase of about 800 billion won from the previously planned paid-in capital increase of 2.5 trillion won.

The increase in the size of the capital increase is due to the recent rise in Korean Air’s share price, and the expected new share issue price rose from KRW 14,400 to KRW 19,100. Korean Air’s share price was 26,950 at the time of the announcement of the acquisition of Asiana Airlines on November 16, last year, but rose to 34,950 won on that day (based on the closing price).

Korean Air plans to spend 1.81 trillion won in debt repayment out of the 3,315 billion won in paid-in capital increase. The remaining amount of 1.5 trillion won will be used to acquire Asiana Airlines shares as before.

The new share issuance price will be confirmed on the 26th of the following month. The number of new shares issued through a paid-in capital increase is 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.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.