[E-Daily Reporter Park Sun-Yeop ] HENG SHENG GROUP COMPANY LIMITED(900270)announced on the 23rd that it has decided to conduct a third-party private placement worth 16.8 billion won to raise operating funds.
A total of 28 million common shares will be issued, with an issue price of 600 won per share. The issue price was calculated by applying a 6.36% premium to the reference share price of 563 won.
The total number of shares outstanding prior to the capital increase is 24,404,704 common shares. The payment date is July 27, and the new shares are scheduled to be listed on August 27. The ex-dividend date for the new shares is January 1, 2026.
The recipients of the third-party allocation are three individuals: Hui Mei Nga, Liu Huan, and Hui Ka Shing. Among them, Hui Mei Nga is a related party of the largest shareholder. The number of shares allocated is 20 million to Hui Mei Nga, 5 million to Liu Huan, and 3 million to Hui Ka Shing. All new shares are scheduled to be subject to a mandatory lock-up period of one year following issuance.
The funds raised will be used for working capital. Specifically, they are scheduled to be allocated to purchase costs (6.72 billion won), marketing expenses (6.72 billion won), and research and development expenses (3.36 billion won).
HENG SHENG GROUP COMPANY LIMITED previously decided on a 5-to-1 stock consolidation at a board meeting on the 1st, and this consolidation is scheduled to take effect on July 24. The company stated, “Reflecting the stock consolidation ratio, the total number of issued shares is expected to be 5.6 million upon completion of this rights offering.”