[E-Daily Reporter Kwon Oh Seok ] Ascon, a company specializing in asphalt concrete ( SG CO., LTD.(255220)), is launching a capital increase of approximately 60 billion won to fund growth initiatives and improve its financial structure. (Photo courtesy of SG CO., LTD.) SG CO., LTD. announced in a regulatory filing on the 18th that it has decided to conduct a rights offering followed by a public offering of unsubscribed shares, involving the new issuance of 41 million common shares. Yuanta Securities Korea is serving as the lead underwriter, and any unsubscribed shares will be handled through a residual subscription arrangement. The proposed issue price is 1,487 won per share, and the final issue price is scheduled to be determined on August 31. The company plans to raise approximately 60.967 billion won through this capital increase. The raised funds will be used for facility investments, operations, improving the financial structure, and expanding overseas business. Specifically, 15 billion won in facility funds will be invested in asphalt plant equipment to secure a production hub in the Seoul metropolitan area. Through this, the company plans to enhance its supply competitiveness, particularly in Seoul and northern Gyeonggi Province, while improving logistics efficiency and securing new clients. Additionally, 10 billion won will be allocated as investment capital for SG CO., LTD.'s Indonesian subsidiary. SG CO., LTD. plans to accelerate its entry into the Southeast Asian market and intensify its push into overseas infrastructure markets based on eco-friendly asphalt and technologies utilizing recycled materials. Working capital of 20 billion won will be used to secure key raw materials, such as asphalt oil (AP), with the aim of strengthening business competitiveness through a stable supply chain. Additionally, approximately 16 billion won will be allocated to repaying debt, as part of a strategy to enhance financial soundness and reduce the burden of financing costs. The company described this rights offering as a proactive investment to secure a foundation for mid- to long-term growth. SG CO., LTD. stated, “We will focus on securing sustainable growth momentum and enhancing corporate value by expanding our production bases in the Seoul metropolitan area and entering overseas markets.”
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